Stargate vs. Across
Why does bridging matter?By now, it’s clear that the future is multichain and omnichain. For example, L2 Beat now tracks nearly 60 active networks, with TVL having increased 5x over the past year alone. As more chains emerge, the need for seamless communication between networks becomes more important. From a user’s perspective, they shouldn’t have to waste time and energy moving assets from chainA to chainB by navigating through several apps, signing a handful of transactions and clicking far...
Stargate vs. Across
Why does bridging matter?By now, it’s clear that the future is multichain and omnichain. For example, L2 Beat now tracks nearly 60 active networks, with TVL having increased 5x over the past year alone. As more chains emerge, the need for seamless communication between networks becomes more important. From a user’s perspective, they shouldn’t have to waste time and energy moving assets from chainA to chainB by navigating through several apps, signing a handful of transactions and clicking far...
Maker and DAI
What is Maker and DAI?The Maker Protocol is governed by the MakerDAO and is responsible for the creation and management of the DAI stablecoin. DAI is a decentralized stablecoin pegged to the US dollar and is backed by collateral assets that are locked in smart contracts. To gain a better understanding of decentralized stablecoins, see this blog post. As the most popular decentralized stablecoin on Ethereum, DAI currently holds about 5% of the total stablecoin market and over 50% of the decent...
Maker and DAI
What is Maker and DAI?The Maker Protocol is governed by the MakerDAO and is responsible for the creation and management of the DAI stablecoin. DAI is a decentralized stablecoin pegged to the US dollar and is backed by collateral assets that are locked in smart contracts. To gain a better understanding of decentralized stablecoins, see this blog post. As the most popular decentralized stablecoin on Ethereum, DAI currently holds about 5% of the total stablecoin market and over 50% of the decent...
Should Your Investment DAO Hold Ethena's sUSDe?
Back in December, I started to read about Ethena and their ambitions to create a synthetically-backed fiat stablecoin that could act an an “internet bond” in its staked format. I shared some initial thoughts here. Now, several months after Ethena’s public launch and $3B in TVL later, I am suggesting that DAOs consider dedicating a portion of their stablecoin reserves to sUSDe. Specifically, I am speaking to investment DAOs that already hold most of their unallocated treasury in stable assets ...
Should Your Investment DAO Hold Ethena's sUSDe?
Back in December, I started to read about Ethena and their ambitions to create a synthetically-backed fiat stablecoin that could act an an “internet bond” in its staked format. I shared some initial thoughts here. Now, several months after Ethena’s public launch and $3B in TVL later, I am suggesting that DAOs consider dedicating a portion of their stablecoin reserves to sUSDe. Specifically, I am speaking to investment DAOs that already hold most of their unallocated treasury in stable assets ...
Should Coinbase Launch a Canadian Stablecoin?
Not only are stablecoins a leading use case driving crypto adoption around the world, but they’re a great medium for onramping funds onchain. For users located in the USA, the ability to move dollars onchain for free via Coinbase’s L2 is a killer feature. Why would you onramp any other way? Unfortunately, in Canada users don't have the luxury of onramping for free just yet, and that’s partially because no one has been able to bootstrap the adoption of a Canadian dollar-denominated stable...
Should Coinbase Launch a Canadian Stablecoin?
Not only are stablecoins a leading use case driving crypto adoption around the world, but they’re a great medium for onramping funds onchain. For users located in the USA, the ability to move dollars onchain for free via Coinbase’s L2 is a killer feature. Why would you onramp any other way? Unfortunately, in Canada users don't have the luxury of onramping for free just yet, and that’s partially because no one has been able to bootstrap the adoption of a Canadian dollar-denominated stable...
Overcollateralized Stablecoins
Crypto-Backed (Anchored) StablecoinsUnlike fiat-backed stablecoins, these tokens are often managed by decentralized protocols, relying on overcollateralization to maintain price stability. If that sounds confusing to you, keep reading. Referring back to the hypothetical XCAD token that I wrote about here, let’s assume I wanted to design it differently this time. In this case, I want to ensure that anyone can provide collateral to my stablecoin while reducing the counterparty risk that comes a...
Overcollateralized Stablecoins
Crypto-Backed (Anchored) StablecoinsUnlike fiat-backed stablecoins, these tokens are often managed by decentralized protocols, relying on overcollateralization to maintain price stability. If that sounds confusing to you, keep reading. Referring back to the hypothetical XCAD token that I wrote about here, let’s assume I wanted to design it differently this time. In this case, I want to ensure that anyone can provide collateral to my stablecoin while reducing the counterparty risk that comes a...
