Are there any stableoil coins?
1 coin = 1 barrel of oil

23. Co-founder of @beliefs - @launchtokenbot (beliefs.social). Collaborator at /frogfm.

lol. Would be fun but needs the oil to actually back the token value. I’m not sure how DAI algorithmically does its stabilization but I’m sure they have the collateral to back it as well.

Not sure anyone has that much oil to set aside as collateral. They obviously want to sell for profit. Unlike things like gold that can last for years untouched, keeping oil (being flammable and can get impure) is much higher risk

@blockbot Steward. Frames Builder. Pro Chess-er ♟️


Just thought a bit a more about this. It’s possible to back the token with gold but use algorithm to make the value always match oil price. Hmm. Not sure 100% how these works but interesting nonetheless

Head of Product @base // classical composooor ䷏
Directed opportunism x Things occurring of themselves📍onchain

can be backed by oil options maybe?
cc @neodaoist wdyt?