Have you guys read this suggestion/proposal on the community forum?

Question

Have you guys read this suggestion/proposal on the community forum?

It's about developing our own native IoTeX stablecoin.

Pretty interesting back and forth going on in the reply section. Don't be shy to chime in, especially if you are well-versed in the topic and got a few gems to share.

https://community.iotex.io/t/proposal-for-the-development-of-a-native-iotex-stablecoin/11121/22

#cryptocurrency #english #iotex

0

19.11.2023

7 ответов

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Anwar (No DMs) Автор вопроса

Francesco | S. S
stable could be a great idea to increase defi deve...

based on the replies I read so far, I think it's like a chicken or egg first question. Do we need a strong defi project here to create our own stable or do we create a stable backed by various type of assets to attract strong defi projects first? But feel free to share to your opinion there. I'm not too knowledgeable about it to offer my own opinion

0

19.11.2023

Francesco | S. S

Anwar (No DMs)
based on the replies I read so far, I think it's l...

to attract projects you have two ways 1) make them find everything ready put them in a position to work immediately and quickly 2) support them in fundraising not as a grant but to support them with "friendly" VCs the biggest problem with new products is that they don't raise funds.

0

19.11.2023

GOPINATH [IOTEX]

Anwar (No DMs)
based on the replies I read so far, I think it's l...

If iotex enable data market then definitely we need to have stable coin for sure . And at the same time we can't trust or use third-party stable example busd and usdc. Since both had bad situation. So *stable coins needed *it's should be independent *shouldn't use any third-party oracle to determine th price. In this case we need to have stable coin like luna and ust (protol stable coin) but they are failed. So honestly dev need do a lot off R&D work to determine the proper version off stable coin and then we can implement the less risky stable coin. We shouldn't hurry . Maybe 2 to 4 months should be enough to find out proper stable coin that still standing in this market without getting hacked.

0

19.11.2023

Francesco | S. S

GOPINATH [IOTEX]
If iotex enable data market then definitely we nee...

Would it be enough to have the PayPal stable today? I read that they call it 1:1. luna ust did not have the problem of security but of minting coverage

0

19.11.2023

GOPINATH [IOTEX]

Francesco | S. S
Would it be enough to have the PayPal stable today...

I don't know much about PayPal but creating stable coin is a serious business since it can flip the protol business so we need do a lot off R&D work. We will wait for team updates

0

19.11.2023

Anwar (No DMs) Автор вопроса

Francesco | S. S
to attract projects you have two ways 1) make them...

agreed. Especially no2. We've witness several promising projects on IoTeX which had to call it due to no funds to keep building

0

19.11.2023

Francesco | S. S · Accepted Answer

Francesco | S. S

stable could be a great idea to increase defi development interest on iotex

0

19.11.2023

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Have you guys read this suggestion/proposal on the community forum?

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