Russians are trying to flee – data from Google Trends

Re:Russians are trying to flee – data from Google Trends by vmception on Saturday March 05, 2022 @05:11PM (#30572453)

Got it, DAI uses a basket of collateral, some of which is the USDC stablecoin, and USDC itself is backed by USD. I dont think that means what you think it means, even if all the USDC in DAI deposits was frozen I think there are other contingencies to keep it at $1

MIM uses the same model except the collateral choices are better, so far, as they are all interest bearing or revenue producing assets such as xSushi and liquidity pool shares.

I dont think TerraUSD is inherently better. The space is littered with algorithmic stablecoins. TerraUSD has done phenomonally well, I dont think it offers anything except being on par with MIM. I would say MIM and TerraUSD as equals for different reasons, and then DAI due to having greater liquidity than MIM and simply being around longer.

I think there is still a gap in the market for the perfect stablecoin. I would like a MIM with a better team and more predictable outcomes.

[ Parent | on HN ]

Re:Russians are trying to flee – data from Google Trends by xur17 on Saturday March 05, 2022 @07:04PM (#30573374)

If I was looking for a stablecoin at the intersection of secure, seizure resistant, and well backed, I'd probably go with Liquity (LUSD). It's backed by ETH, doesn't have a dao or anything controlling it, and has been operating for over a year at this point with no issues.

[ Parent | on HN ]

Re:Russians are trying to flee – data from Google Trends by vmception on Sunday March 06, 2022 @01:17PM (#30579645)

Keeping it simple, love to see it

[ Parent | on HN ]