Let’s be honest guys, no one needs a decentralized stablecoin.

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Can I give a fair counter argument?

Stablecoins has become this really overused word, but if you break down into some specific classes of stablecoins, it makes more sense.

There are some centralized stablecoins that are effectively wrapped Eurodollars. Their backend is money market funds, they come with freeze and seize, and they can be relatively treated at par with bank monies with liquid trade between the two.

There are also, decentralized stablecoins that are effectively used as legs in on-chain credit markets. These backends are mostly base crypto, regularly trade below par as solvency is an issue during high stress, and for the most part are taken and re-invested back into credit markets so users can lever up.

If you break this down like this, I believe no one "needs" the decentralized stablecoins, but people should have exposure to on-chain credit just to diversify and have access to yield.