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That doesn't make it permissionless. The parent is right. USDC is closer to an IOU than a permissionless ERC20 token because the contract it uses has been modif
by mudrockbestgirl 4y ago
That doesn't make it permissionless. The parent is right. USDC is closer to an IOU than a permissionless ERC20 token because the contract it uses has been modified for the centralized blacklist functionality and can lock you out any time.
It's the same as a centralized bank. If you get your salary deposited you can also go and take out cash immediately, but until you do, you don't truly own the par value.