Re:Having a safe CEX: proof of solvency and beyond
by everfree on Monday November 21, 2022 @04:16AM
(#33690520)
> you can't think of a single example that is actually trust worthy
In addition to USDC, USDH, and DAI, we've also got GUSD, RAI, LUSD, and USDP in terms of trustworthy stablecoins.
All of them are audited in reputable ways, either by large accounting firms or directly on-chain by cryptography:
Re:Having a safe CEX: proof of solvency and beyond
by josefx on Monday November 21, 2022 @02:58PM
(#33697128)
> All of them are audited
USDC decided to remove guarantees from its site and invest its reserves as it saw fit without any guarantees or limitations on risk in 2021 before returning to form several months later. This happened despite the reserves being subjected to attestations every month. So it might be a good idea to start a list of trust worthy stable coins with just about anything else, especially if you want to give the impression that the attestations are actually worth the paper they are printed on.
Why did the argument suddenly switch from "have been for years" to "theoretically there could exist a stable coin that isn't outright fraud"? Is the reason that you can't think of a single example that is actually trust worthy?