Stablecoin, what do you think about the idea of a community consensus?

Tytanowy Janusz

legendary

Activity: 2156

Merit: 1622

Quote from: gelovolk on February 28, 2023, 07:53:26 AM

In this case, where there is a community consensus that 1 AmerG equals 1 USD, the StableCoin provided is secured by both you and me through the use of a crypto asset.

So am I to understand that you think my promise not to sell below $1 is enough to invest in this token and treat it like a stablecoin? There's nothing more elusive than the promise of a random online person you've never met.
As soon as the price starts to rise, people will start taking profits and as soon as it starts to fall, they will start to cut losses.

gelovolk

copper member

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Merit: 1

I think StableCoin it’s something different than BTC or ETH, Stablecoin is a type of cryptocurrency that is designed to maintain a stable value relative to a specific asset or basket of assets, such as the US dollar, gold, or other commodities.
But BTC or ETH is often referred to as a digital asset because it can be bought, sold, and stored like other traditional assets such as stocks, bonds, and real estate.

In this case, where there is a community consensus that 1 AmerG equals 1 USD, the StableCoin provided is secured by both you and me through the use of a crypto asset. Our crypto asset is protected, and nobody can access it.
Previously, I was searching for something similar to the DAI project, but at this time, I believe it is more centralized than others due to being controlled by a group of people and already collateralized by 50% in USDC.

Tytanowy Janusz

legendary

Activity: 2156

Merit: 1622

Quote from: gelovolk on February 27, 2023, 10:07:45 PM

a community consensus that 1AmerG = 1USD?

Price is driven by supply and demand not by "a community consensus".

How about we will do "a community consensus" that bitcoin is worth 1 mln $?

Even if the developers have some crypto to secure the price, they obtained them to deliver the product. Using them to manipulate the token price doesn't seem like the best idea. changing the rules of the game (tokenomics) during game doesn't seem fair to investors either.

gelovolk

copper member

Activity: 6

Merit: 1

Stablecoin, what do you think about the idea of a community consensus that 1AmerG = 1USD?
It appears that the stablecoin is truly pegged by collateral crypto and has a higher level of transparency.
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