ted (not lasso) on Warpcast

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ted (not lasso) pfp

ted (not lasso)

it's inevitable that crypto product frontends will price access in stables and allow users to pay in whatever asset they want. pricing access to a product in a volatile asset is too bad of a user AND builder experience for it to remain the norm. speculators buy access they'll never use, drive up prices and lock out potential real users. bad for builders (who need real usage), bad for users (who can't get in). "what's wrong with adjusting access requirements as price changes?" if you're dropping access from 10k $token to 1k $token while nothing about the product changed, you're already pricing in stables — you're just using $token as an unstable middleman, introducing volatility risk for users and extra work for yourself. defi enables any product frontend to show price to access at a stable $25, yet users can still pay in whatever they want (ETH, USDC, ANON, HIGHER, VEIL). the tech for this already exists today. zero friction for users. zero complexity for builders. zero volatility risk for everyone.

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EmpiricalLagrange pfp

EmpiricalLagrange

@eulerlagrange.eth

The only reason paying in a volatile asset is a thing is because most projects do airdrops to subsidize demand. By default this creates a lot of sell pressure. The trick around this is to get people to spend and burn those tokens, dec supply -> inc price. Imo it’s retarded, because you need to update burn rate with price, usually pegged to a dollar amount. —— If you charge in usdc, use that to buy/burn, it’s much better. But people would have to spend money

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@baseddesigner.eth

product with stable as a gate would fail miserably I think

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nuconomy.⌐◨-◨ pfp

nuconomy.⌐◨-◨

This may be true for product driven companies, but when people are launching a new token, they often don't actually want static pricing. They want to induce FOMO so people buy "enough of the token" before it escapes their acceptable price range and others buy in speculating on that behaviour leading to price go up.

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@baseddesigner.eth

I don’t think it’s bad in any way, people who want to use it will use it others are just contributing to its economy, dev is earning fees and got allocation to spend on improving the product to attract and improve on those real use cases token also drives marketing reach for free pretty much

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shazow pfp

Protocols priced in stables, paid in whatever, frontends priced in whatever. ENS is a great example of this. Protocol price pegged at 5 USD paid out on ETH, but frontends can add whatever swap abstractions they want. Someday we can imagine whatever includes acts of labour, too. Taylor Swift should be able to pay for her coffee by singing a song (which maybe is realtime auctioned to fans as an NFT and proceeds get converted to USDC sent to the barista).

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jtgi pfp

followed same logic pricing with automod hypersub in usdc the counter is everyone wants their token to be a unit of account. - ethereum natives want it to be eth - memecoin $x wants it to be $x so they can build the 'unit of account' narrative - sometimes products choose it to be $x because it gives them advertising, etc. but on a long enough timeline i think stables will be normal, volatility is just bad for businesses and customers. (and btw, @loopcrypto offers this, I used it for glass, example checkout: https://checkout.loopcrypto.xyz/eef429bc-2e43-4b8a-8f7d-f8d67f6c67ab/92c043a0-9483-4c40-8d5e-8c0d5211f47a)

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Mark Fishman pfp

Yeah this is why First Draft Club has always been in USDC – imagine paying $25 and then only having the chance to earn back $1 of value although memecoins might be good for reward pools 🧐

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Colin Johnson 💭 pfp

Colin Johnson 💭

What’s the best tech for this today? Is someone really smooth to implement for conversions?

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CasterBites pfp

Your cast is making waves! It's been curated by @femmie and showcased on https://casterbites.com. Keep inspiring the Farcaster community! Remember, any Farcaster user can send and vote for the best casts of the day

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Kaloh pfp

Same applies to digital art I still don’t understand why we aren’t using using stables yet there

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Juli 🎩↑ pfp

That‘s a fair Business (frontend) decision. Getting Users to stake, burn or pay with a specific token CAN lead to token upside and enable teams to work with a bigger budget to grow faster. If they make use of the volatility, target the Right Investor-users, but ofc also gotta find a way to remain accessible vs financial engineering.

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FeMMie 🧪💨 pfp

FeMMie 🧪💨

pricing in stables with asset flexibility is the way forward zero volatility, better for both users and builders

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AJ pfp

Speculator purchases of LAND in /dcl have seriously hurt development of the platform. DCL is one of the only contiguous metaverse worlds but it has vast, empty plots of land that will never be developed unless speculative investment types decide to actually build something. Modifying the market with stables or whatever requires a series of votes in the DAO and ultimately a Chang in the smart contracts. Some of those are over 5 years old now.

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