Re:Report on Stablecoins [pdf]
by agotterer on Monday November 01, 2021 @04:43PM
(#29072836)
This is why I'm excited about Djed (https://djed.xyz). Input Output Global (creator of Cardano) has been researching stable coins and drafted a pretty extensive white paper on their solution (https://eprint.iacr.org/2021/1069.pdf). The white paper also include a mentions for how they will prevent bank runs.
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Re:Report on Stablecoins [pdf]
by JumpCrisscross on Monday November 01, 2021 @05:10PM
(#29073151)
One of the problems this class of mechanisms runs into, in the real world, is that--particularly in times of crisis--liquidity and prices are discontinuous.
Djed doesn't seem to be vulnerable to the former. (Reserve coin holders transparently give up liquidity for their yield. Though, as the paper admits, reserve coin holders are subject to run mechanics.) It would be to the latter.
Still, fascinating stuff.
Re:Report on Stablecoins [pdf]
by tick_tock_tick on Monday November 01, 2021 @05:03PM
(#29073078)
> Input Output Global (creator of Cardano)
I worry there target release date of 2042 seems extremely aggressive for them based on past performance and some of there research might not be relevant by the time it comes out.
2042? Perhaps 2024?