Why are stablecoins needed?

1. Stability:
   - The main advantage of stablecoins is their stable value, which makes them ideal for storing value and conducting transactions without the risk of large price fluctuations.

2. Ease of translation:
   - Stablecoins can be quickly and cheaply transferred between different exchanges and wallets, making cryptocurrency transactions easier.

3. Access to DeFi:
   - Stablecoins are widely used in decentralized finance (DeFi) applications such as lending, staking, and trading on decentralized exchanges.

4. Risk hedging:
   - Traders and investors often use stablecoins to hedge risks during times of high volatility in the cryptocurrency market.

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They're also a game changer for payments. Think of moving between exotic currency pairs in seconds at an exponentially cheaper and faster rate.