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Stablecoins are supposed to be stable, and not rise or fall. There is no expectation of profit for a stablecoin like USDC. And USDC doesn't pay interest. People
by landemva 3y ago
Stablecoins are supposed to be stable, and not rise or fall. There is no expectation of profit for a stablecoin like USDC. And USDC doesn't pay interest. People use it for stability and for payments.
- lowkeyoptimist 3y agoLast I checked, you could get 5% interest on your USDC. Is that just something where the exchange is lending it out?
- landemva 3y agoIt is not the code of the USDC stablecoin paying 5%, so that reward is something else. Maybe the exchange wants to get many people sending coin to them so their asset base looks big for ... some purpose?
- ac29 3y ago> USDC doesn't pay interest Coinbase, who co-founded USDC, absolutely pays interest on USDC: https://www.coinbase.com/usdc https://www.coinbase.com/usdc (they call it rewards instead of interest in an attempt to avoid regulation, but it is functionally the same thing)
- mattdesl 3y agoA company offering to pay interest on top of stablecoin holdings does not mean the underlying asset features an expectation of profit.