TLDR
Stablecoins are going through a phase of very rapid expansion; growing from a market cap of USD 4.9 billion at the start of 2020 to about USD 60 billion today. At the moment the most widely used stablecoins are backed by bank deposits at traditional banks. This article presents a design for pure crypto stablecoins that does not undermine its own economics. This design features two new elements: The protocol will not rely on voluntary action. The design allows the stablecoin to use its own future profits as collateral, a “Self-collateralized Stablecoin”via the TL;DR App
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