Why are we still trying to get stable coin working?

Question

DeFiChain - International

Jarek

Why are we still trying to get stable coin working?

is it really required for the ecosystem to function - we have dfi we have eth we have btc..do we need a stablecoin?

#blockchain #cryptocurrency #defichain #english

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31.05.2023

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Jarek Автор вопроса

DanieL BaptistA
Hi! Of course, just like in traditional finance, w...

As a day Defichain supporter it’s been tough to watch it all

0

02.06.2023

DanieL BaptistA · Accepted Answer

Hi! Of course, just like in traditional finance, were you need to weight stocks against a stable currency, in the case fiat currency, you need a stablecoin in DeFi if you want to replicate the system in a decentralized way. You cannot weight it against something that tomorrow may worth a lot or on the contrary, worth nothing. And using usdt pr usdc cannot be done because this are centralized coins for example. If it was that easy, no project would create and maintain a stablecoin, would simply use a centralized stablecoin and cross it's fingers for the banks to not collapse and funds getting completely locked and lost, like it happened a couple months ago when one of the banks were Circle keept about 10% of it's reserves gone bankrupt and immediatelly usdc lost it's peg while people got without knowing it they would see their money ever again.

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Why are we still trying to get stable coin working?

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