Conversation

Do Kwon 🌕
@stablekwon
Algorithmic stablecoins are fast becoming the norm - protocol-issued dollars coming to every blockchain. Detractors cannot see - currencies are ultimately backed by the economies that use them, and the future is clearly opting to use decentralized and self sovereign stablecoin💰
244
4,234
Do Kwon 🌕
@stablekwon
This becomes easier to understand if you imagine fiat pegs are transient for stablecoins Think about it
65
1,117
Rg
@canwinlol
you say the currencies are ultimately backed by the economies that use them and you peg UST to USD, backed by the US government. by that logic, isn't UST just a representation of US economy?
5
6
Tony Chimdiuto
@Tonydiuto
What he means is that the peg it currently has to fiat is temporary. It will transition to another peg that is not fiat
2
2
Show replies