So basically there is no risk free money. Crypto is no worse then the alternatives. I think protocols like @UXDProtocol will eventually power stable payment rails for users.
3/ Still one of the more underrated experiments in onchain stablecoin design.
Feels closer to crypto-native market structure than a wrapped version of traditional banking.
1/ Most stablecoins pick two: stable, decentralized, or capital efficient.
https://t.co/2aV0ccSy3E tried approaching the problem differently with delta-neutral mechanics instead of the usual overcollateralized design.
2/ The interesting part isn’t just the stablecoin itself, but the idea of making yield native to the system while keeping exposure hedged.
A different direction from the typical “print and pray” model.
DeFi governance update – 26 August 2024
📝 Proposals:
‣ @eulerfinance establishing XP points program
‣ @swiss_staking requesting 21M CRV from the DAO for @curvefinance development
‣ @arbitrum increasing the L2 Core Timelock delay
🗳️ Votes:
‣ @UXDProtocol distributing its $52M insurance fund
‣ @mangomarkets settling with the SEC
‣ @MakerDAO moving into Phase 2 of PSM migration