Asymmetric Market Update™️ #23
It has even produced “stablecoins” to serve as units of account, or real money (DigixDAO’s DGX and Emergent’s G-Coin, tied to gold bullion, and Tether, tied to the dollar). And then, the blockchain movement developed ways to mediate between these various tokens, forms, and facets of funds, such as Ripple’s XRP, Bancor, and TREZOR.
George Gilder • Life After Google
May 2024: Stablecoins are helping create a buyer of second-to-last resort for US Treasurys
writing.kunle.app
You may be thinking: “But the number of fiat currencies is tiny compared to the number of cryptocurrencies, of which there are thousands.” There’s an important distinction. The vast majority of cryptoassets adhere to just a few base layer standards, and those standards are quickly becoming interoperable using software adapters like KEEP, Axelar, an... See more
Stephen McKeon • Components of Coordination
This will change when people start selling not just their fiat, and not just their time, but when they start liquidating real assets.
Sacha Meyers • Bitcoin Is Venice: Essays on the Past and Future of Capitalism
The prices of cryptocurrencies are extremely volatile. In order to mitigate this volatility, stablecoins pegged to other stableassets such as the USD were created. Stablecoins help users hedge against this price volatility and allow for a reliable medium of exchange. Stablecoins have since quickly evolved to be a vital component of DeFi that is piv
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