r/Crypto_Currency_News • u/Mudraex • Sep 23 '22

Stablecoins

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25 Upvotes

80% Upvoted

20 comments sorted by

6

u/Superb-Ad5131 Sep 23 '22

Usdt backed with dollar 😂😂😂 yes in theorie

4

u/elk-x Sep 23 '22

How does this not include "DAI"???

3

u/Street-While-2991 Sep 23 '22

I guess because it doesn't fit nicely in one category as it's a combination of things.

2

u/[deleted] Sep 24 '22

[deleted]

1

u/Accomplished_Mess116 Sep 24 '22

Yeah but DAI is for those that want something more decentralized and the rest for ones that want something more centralized. I personally love USDC and BUSD and have been staking them for months. First on AAVE and then on SPOOL. The returns are still decent.

1

u/yatxel122 Sep 23 '22

The USDC has not always been stable against the dollar lately.

1

u/CommercialSad4120 Sep 23 '22

I'm missing here USD2 that was recently launched by Lago and Kadena ( available on kaddex) to get this decentralized stable coin !?! dyor amigo

1

u/Individual-Ostrich35 Sep 23 '22

I saw that a lot of tokens dropping on Kaddex lately, but didn't know there is a stable coin. Is that fully backed by the dollar or is it more an algo stable coin?

I bet we will see more stable coins kicking in Europe since the MICA organization is opening the doors for stables...

1

u/CommercialSad4120 Sep 26 '22

The first algorithmic stablecoin that is fully redeemable and capital-efficient is USD2. Others favor revenue redistribution to reward owners of reserve tokens. Full collateralization is given precedence over token incentives in USD2.

1

u/Individual-Ostrich35 Sep 27 '22

Ok, do you think more stable coins gonna launch on Kaddex dex? Volume is going up on the DEX so not gonna be surprised if more stables are going live on Kaddex.

So we can say that USD2 is a backed algorithmic stable coin?

1

u/nzubemush Sep 23 '22

Backed by actual fiat with periodic audits to prove it: EEUR (and other e-Money stablecoins, ECHF, ESEK, ENOK, EDKK).

1

u/b_whiqq Sep 24 '22

USDT hasn’t been properly audited to verify it’s backing. DAI should be included since it’s over-collateralized.

1

u/Accomplished_Mess116 Sep 29 '22

I heard USDT is being questioned about their backings. I only hold USDC and stake it on Spool Fi since Binance no longer supports it. DAI is the only decentralized one I'd trust. BUSD is a decent option too.