Can anyone direct me or tell me the steps one would go to create a asset backed stable coin? We know about crypto very well but when it comes to the creation of a stable coin, we are a bit lost.
Do you create the tokens then send it to a smart contract? How does that part work?
Any help would be greatly apprenticed
Do you create the tokens then send it to a smart contract? How does that part work?
Any help would be greatly apprenticed
If you don't know already, dont make one
a Stablecoin is basically what we use IRL, FIAT is a stablecoin, its backed by the govs word that its worth what it says on the colored paper
But imagine if people wanted proof, or the actual gold equivalent, stablecoins are not to be made willy nilly. in crypto they become insolvent quickly if done wrong.
You need huge reserve funds of whatever you back it with, and tight planning on how it will be rationed to always stay solvent