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Paul Frambot 🦋 pfp
Paul Frambot 🦋
@paulframbot
From conversations I had, the number of different stablecoins that are going to be released in the next year is quite crazy. Having a hard time understanding what is the endgame of all this: Will we see a winner takes all eventually or will it be forever fragmented?
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Pedro pfp
Pedro
@pedrowww
They all saw the fees Circle and Tether were racking and want their share.
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Bojan pfp
Bojan
@bjnpck
It will be fragmented, I’d describe it as layered or funneled where there will be many app specifying stables, but just a few people are comfortable holding long term in size.
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Samuel pfp
Samuel
@samuellhuber.eth
I believe if it’s USD anywhere then wallets will aggregate it for the user and it then is just who the wallets or user deem trust worthy
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tomu pfp
tomu
@tomu.eth
why isn’t DAI being adopted tho? i feel like every cycle there are more stablecoin experiments, but they don’t last more than their bull market period
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chun pfp
chun
@zkchun.eth
I think the fiat backed stables is a winner takes all game collateralized (and, god forbid, algorithmic) stables are probably going to keep flooding in. partially feels like a marketing tactic sometimes tbh to make the product offering seem more grand and independent.
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alixkun🎩🍡 pfp
alixkun🎩🍡
@alixkun
This is kinda symptomatic of the whole blockchain ecosystem, and one of its major plague: If you have skills, there are huge assymetric financial incentives to start your own thing and raise massive amount of money for it, Vs contributing to an already existing product 🤷‍♂️ We're doomed to fragmentation.
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Kieran Daniels 🎩 pfp
Kieran Daniels 🎩
@kdaniels.eth
Winner or regional (relegations) winners will emerge, but it will still be a sea of fragmentation. Also I assume centralized stables dominate until there is a real banking collapse and then the need for RAI and others will become apparent.
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agathedavray pfp
agathedavray
@agathedavray.eth
@usual 💜✨
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Joethebeast.eth 🎩🍱 pfp
Joethebeast.eth 🎩🍱
@joethebeast1221
Ends up facing regulation.
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Sumaa pfp
Sumaa
@sumaa
Hopefully not anymore carry-trade backed stablecoins - the yields are already near zero. In fact no more trade-that-won't-exist-in-a-few-months backed stabelcoins
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ns pfp
ns
@nickysap
"He who controls the money, controls the world [paraphrasing]" I have heard countless stablecoin pitches over the past dozen or so years and not a single one of them has succeeded. Same with exchanges. All makes sense from a high level; high volume = huge fees, etc. But it's like saying, "we just need to capture 1% of the market." Easier said than done.
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Alex pfp
Alex
@alxx
Lots of factors but the history of digital money services feels relevant here. Look at Mpesa and Alipay. Certain orgs will get tacit approval from governments and are the ones that get their wheels greased. Payment is all about convenience. Visa + Mastercard way ahead in that sense in US, but imo they are starting to lose with tap-to-pay + digital wallets/cards on cellphones. It does seem that if history repeats itself there will be more than one winner. IMO next step is stablecoins being inside of traditional wallet apps and more deeply integrated with things like Venmo and Paypal.
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