AnalogueDog_ on Nostr: I think it's probably unenforceable in the long term. Synthetic USD can be made by ...

I think it's probably unenforceable in the long term.

Synthetic USD can be made by Joe Blow using a long call and a short put at the same strike date and strike price. Herstatt and counterparty credit risk can be wound right in (to near neglegable) using DAOs, so the shittoken can trade at a neglegable discount. Seems to me that liquidity will discover and flow towards the best and lowest friction implementations... it's not like it hasn't been done before.

Am I missing something?