Entering a Golden Age of Decentralized Stablecoins: What's New?
Discussing major shifts in the DeFi stablecoin landscape, examining a spectrum of innovative projects and their impacts.
Note: For those in a hurry, the key information is highlighted in bold for quick reference.
Do you hold any stablecoins? If so, which ones, and what do you do with them? Do you farm them for maximum yield or simply hold them to buy the dip?
Perhaps you've converted your stablecoins to fiat to avoid the risks associated with them. It's hard to blame you, especially when even USDC briefly lost its peg. Or maybe you've chosen fiat because it now offers higher yields than lending on blue-chip DeFi protocols.
Combined with an overall bearish crypto market, it's no surprise that the total stablecoin market cap has declined from an all-time high of $200B to the current $126B.
Fear not. The stablecoin market is growing more fascinating, with the founder of Synthetix suggesting that we're entering a golden age of decentralized stablecoins.