Re:Two thought experiments to evaluate automated stablecoins
by thaumasiotes on Friday May 27, 2022 @05:00AM
(#31527473)
> Eventually the stable coin market cap hits 50% of all US dollars in existence. Numerous audits prove that the dollars are indeed responsibly held by the sponsor.
> Now, what specifically are the assets being held by the sponsor?
By definition, they hold every dollar in existence. Holding any other type of good would wipe them out as soon as the exchange rate to the dollar changed.
> Now, what specifically are the assets being held by the sponsor?
By definition, they hold every dollar in existence. Holding any other type of good would wipe them out as soon as the exchange rate to the dollar changed.