One thing that continually shocks me: the number of stablecoin projects that don't understand the use cases of stablecoins.
No one wants your coin algorithmically pegged to a hyperinflating currency: it's not stable, and you can't use it as an FX onramp.
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No problem. Peg it to a cup of coffee. Or a glass of milk, loaf of bread. Or some other thing valuable and universal to people.
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That'd actually be pretty cool--though really tricky to actually define in a functional way.
It's funny to see a whole generation discover why we had a gold-backed currency to begin with.
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Except, the same loaf of bread costs different prices in different locals