TheStophe
10.1K posts
TheStophe
@TheStophe
Decentralized hard money, cryptocurrency advocate. Trying to financially educate and not get wrecked by ponzi fiatcoins. Husband, Dad, Engineer. From Philly.
$USE Algorithmic Stablecoin Part 2: Building DeFi Together Dear Ergo community, It has been a few months since we launched @StableUSE stablecoin. So far, it has performed very well. It has maintained its peg to the dollar as intended, and the bank reserves have been holding up well. The time has come to move to the next phase. For the past few months, I have been working with a very talented team on a completely new DEX design on Cardano. The DEX is currently live and is called Shadowbook. @ShadowbookMM allows the creation of highly liquid trading pairs at a fraction of the cost typically required on traditional AMM DEXs. Currently, it supports multiple trading pairs such as NIGHT/ADA and ADA/USDCx. Shadowbook offers an excellent user experience, as all swaps on the DEX are atomic and executed immediately and settlement happens within the same block. With this development complete, we are ready to bring the best algorithmic stablecoin, $USE, to the best DEX, Shadowbook, and offer the best user experience imaginable. To bootstrap the initial DeFi setup, we need to gather initial liquidity. The efficiency of Shadowbook is 50 times higher compared to traditional AMM-based DEXs. To provide a solid trading experience, we are looking to collect starting liquidity in the event similar to CLB. Events details: There are 2 new community events planned: Event #1 is a CLB-type event to bootstrap stablecoin liquidity on BSC and Cardano. More details about this event can be found in a separate Medium post. Event #2 is a raffle donation event aimed at collecting 18,000 ERG to cover development and integration costs. We will proceed with the integrations if Event 1 reaches its minimum target and Event 2 successfully completes the fundraising goal. Integrations: All USE/USDCx collected during the event will be deployed as cross-chain liquidity on Cardano and Binance Smart Chain. In the case of the success of Events 1 and 2, the Ergo community will receive the following guaranteed integrations: 1 - CLMM pool on BSC (USE/USDT) 2 - Highly liquid trading pairs on Cardano: - USE/USDCx - ADA/USE - NIGHT/USE - rsERG/USDCx - rsERG/USDM - USDM/USE - ...and more For small and medium-sized trades, $USE will become one of the most liquid stablecoins on Cardano, competing and often surpassing $USDCx and other stablecoins. Yes, you are hearing it right — the bid-ask spread on the ADA/USE trading pair will likely be better than what existing Cardano stablecoins may offer. The above integrations open paths to: - $USE listing on one or multiple Cardano lending protocols -Direct purchase of $USE and $rsERG from a Coinbase wallet with $USDC via the usdcx bridge portal -Cross-chain stablecoin lending/borrowing arbitrage -Stablepool liquidity farming -Integration with Midnight ... and many more DeFI possibilities ERGO users have the ability to significantly expand Ergo DeFi suite with an industry top user experience
Very soon there are going to be more AI agents than humans making transactions. They can’t open a bank account, but they can own a crypto wallet. Think about it.
insane sequence of statements buried in an Alibaba tech report
Wrote about potential of ai, energy markets and cryptocurrency mining intersecting about a year ago. Even proposed a rough easy to build/modify algo modified for supercluster mining. Interesting idea to think about. curiaregiscrypto.medium.com/the-future-of-…
A historic moment for crypto. Kraken Financial has been granted a Federal Reserve master account, making us the first digital asset bank with direct access to the U.S. payments system. A major step toward connecting crypto infrastructure with the core rails of global finance. blog.kraken.com/news/federal-r…
Ben Horowitz on the infrastructure behind the AI economy: "Crypto is the natural money for AI because it’s internet-native money." "AI is global. Crypto is global." "There needs to be not just a ledger of money, but probably a ledger of truth for AI to really fulfill its potential." "I think people are probably underestimating how crypto and AI work together to form the AI economy." "Networks and computers tend to grow together, and I think that AI is obviously a new kind of computer and crypto is a new kind of network." @bhorowitz on Moonshots with @PeterDiamandis
Algorithmic stablecoins with provable on-chain reserves are the future. USE, with its scalable design, is built for that future.
