Re:Coinbase Drops Promise of Token’s Cash Backing That Wasn’...
by leppr on Wednesday August 11, 2021 @10:40AM
(#28142563)
The reason the crypto world uses dollar-pegged tokens in the first place is for their relatively stable value. The downside is that obviously this stability is not perfect, and it's managed by a centralized entity, which as monstrously big and powerful it may be, is still a single point of failure with its own interests. The real ultimate solution is to detach from the US dollar and get value stability from somewhere else, e.g. RAI[1].
[1]: https://reflexer.finance/