May 15, 2022Liked by Recovering TradFi Chad

Lots of interesting bullets.

One thing I'm not clear on is whether you believe uncollateralised or partially collateralised stables have a future. My view is that they don't.

Ultimately, even in fiat circles, moving to partial collateralisation tends to always preceed the downfall of a currency.

My view at present is that blockchains should each try to have their own native version of USDC.

I hold out some hope for DAI (although question the 50% that is issued backed by USDC) but I see DAI as in a different category than USDC. It inherently has worse collateral risk and DAI holders should earn an interest premium to USDC for that risk.

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