Consumer Crypto

Thinking out loud:

Instead of apps launching a token, why not launch stablecoins unique to their ecosystem?

Positives? Negatives?

No, any sane person would want to use a price-stable unit of account for a given resource... but most of crypto is insane

If the question is:

1) why not stables over volatile assets -- because crypto people want to get rich by dumping insider allos

2) why not *my* stable instead of usdc -- because margins are thin (almost all the yield will get sent back to users due to competitive pressure) and the schlep is insane. Only reason we have 2 great stables is because of Tether's massive eurodollar style reg arb and Jeremy Allaire having 9 lives lol

On #2 I think Bridge / Stripe and other bank stables will change the game and fragment liquidity. Really interested to see what happens...