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.
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.