The Need for Many Stablecoins and a Metastable Basket
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There’s no doubt that the crypto-verse, and internet as a whole, has been buzzing about stablecoins and their role in the future of digital currency. In fact, since 2014, over $350mm in funding has gone into backing north of 60 stablecoin-specific projects across the world.Source: #blockchain researchRecently, an influx of projects pegged to the U.S. Dollar have been popping up all over and it’s understandably become hard to differentiate them from each other. After all, many have similar value propositions. With all of this in mind, it’s perfectly reasonable for someone to wonder what the need for yet another stablecoin project is. To get the answer, we can draw parallels from use cases in fiat currencies.As a refresher, we’ve addressed properties and qualities of an effective stablecoin (...)