Post
Topic
Board Economics
Re: Stable coin can solve poverty
by
teosanru
on 02/06/2022, 18:40:16 UTC
Plan to solve
Create usd or other stablecoin like eur or why not gbp...
And make big airdrop.
So everybody will get nice ammount Smiley
And exchangers will pay apy like 40-50% to hold

Its instant plan to remove poverty you print money
Hahah what sort of joke is this? Who will fund the money into these stablecoins? Stablecoins work on two concept either on real fiat backing like USDT where the team holds dollars in reality or in algo based coins like UST where too team used to hold the underlying asset which is LUNA in both the cases team needs money to buy the underlying asset which comes from person buying that stablecoin if you just airdrop it to all how will this capital come in? How will the stablecoin derive it's value? It would just be fiat with zero value as it's not even nation backed.