"But we need a huge amount more decentralized economic bandwidth in the form of ETH and BTC at much much higher prices." I have always argued this - if you want overcollateralized and decentralized stablecoins to be able to scale like centralized ones, you need the collateral that they're backed with to have an enormous market cap. ETH at a $100 trillion market cap will be a nice start, but longer-term we want ETH to be worth $1 quadrillion and beyond. Accelerate!
Joseph Lubin
Joseph Lubin13.8. klo 02.52
The stable end game for stablecoins will be systems like Maker/Sky with overcollateralized CDPs. These systems will have broad token ownership and permissionless usage. But we need a huge amount more decentralized economic bandwidth in the form of ETH and BTC at much much higher prices. We are working on the latter. Then we will work on the former.
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