Toad
14.4K posts

Toad
@ToadTelegraph
Crypto, tech and finance content along with some charts and TA. Not your average toad.

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Been thinking about this for a while. What if you created a stablecoin that was pegged to $1 but instead of inefficiently locking up loads of capital, you back it with a second token I know it sounds kinda risky but if it drops below a dollar, people can burn the other token and redeem it for the stablecoin. If it goes above a dollar, they can just sell the stablecoin and redeem it for the other token. I feel like this might work if it captures a flywheel and builds up a sufficient ecosystem to support the daily buying and selling pressure + arbs. What am i missing here?

USDC is global and now live on over 30 different chains.

















