Quote from: Dragonfund on March 10, 2023, 10:17:30 AM

When people try to stake stable coin, particularly when it is associated with a high yield, they usually collapse at the end of the day, and other few places where you can stake stablecoin have low yield, and I ask myself what is the point of staking it after a year if I can't yield something tangible. I recommend that you buy coins and keep them rather than staking stable coins. It is safer to buy and hold good coins, and you will surely gain something before the end of the year, making it worthwhile to buy rather than staking.

I've been thinking about staking stablecoins twice, now that a trusted stablecoin like USDC lost its peg a few days ago. Why would I waste my time trying to get a high yield with my stablecoin, if it's not guaranteed to hold the peg of $1 forever? I've thought algorithmic stablecoins were the only ones doomed to failure, but I guess I was wrong. Stablecoins backed by USD reserves depend on the banking system to survive, so there's the risk of losing it all if a major bank collapses (like SVB did).

It seems to me it's best to save money directly in a bank account even though rates won't be that high compared to "De-Fi'. Or you could put everything in BTC and wait until it goes all the way to the moon. Who knows what the future of stablecoins will be? Huh