Let's know we will likely not conclude this debate anytime soon, as legal issue is take long time especially for big firms with good lawyers already knew this scenario in their monopoly playbook.
Sorry, I stop rant about USDC's issue.
Unless ETH or other aseets crash to near zero, algo stablecoins should do fine and may likely avoid scrutiny from regulators of the world (IF, DAO is perfectly designed to be decentralized as time passes)
Yes many VCs back Terra (LUNA) that issues algo UST (USD in Terra protocol) so having a clear VC, Terra team location and identity not so good for avoiding govt. scrutiny but still higher chance of get away from prohibit act- since their UUST isn't 1:1 to USD, it is pegged by LUNA just like Maker DAO.
I find Olympus DAO and Frax share, Alchemix to be interesting Algo stablecoin protocols b/c they utilize bonds of other asset. For now I do not know deeply about OHM FXS ALCMX's tokenomic and their stablecoin issuance. But it feels like digital nomads could get their hands on decentralized stablecoins like these UST DAI for now
IF 50% in BTC, 25% ETH, 10% Shitcoin 15% in stable coins ----------------> 7.5% in USDC and 7.5% in UST, DAI is just an idea for now.
Peace,
Fleeangel
Trade closed: stop reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.