ericyakes on Nostr: Stablecoins are on pace to become the new money market funds - Crypto L1s will live ...
Stablecoins are on pace to become the new money market funds - Crypto L1s will live and die by demand for these coins
Investors will buy and hold them to earn a yield from the debt backing them
That "yield" is derived from fiat debt issuance and this system will grow even more rapidly than fiat debt
It will be called the next innovation of crypto
A crisis will emerge with stablecoins losing their peg - effectively "breaking the buck"
Nothing about this system will enable freedom
Investors will buy and hold them to earn a yield from the debt backing them
That "yield" is derived from fiat debt issuance and this system will grow even more rapidly than fiat debt
It will be called the next innovation of crypto
A crisis will emerge with stablecoins losing their peg - effectively "breaking the buck"
Nothing about this system will enable freedom