IOG CEO advises adopting deflationary currencies like Bitcoin (BTC) and Cardano (ADA) to establish a strong collateral backing. Liquidity pools for BTC and ADA will guard stable coins against value decline. Various stable coin models are supported by Cardano (ADA). Hoskinson predicts that overcollateralized stable coins backed by Bitcoin (BTC) and Cardano (ADA) might so displace national fiat currencies.While some of his supporters found the concept appealing, detractors pointed out that the design of the defunct TerraUSD (UST) stable coin was very identical. Cardano’s overcollateralized stable coin Djed will launch on the main net in January 2023, as previously reported by U Today. It will have its own Djed Pay payment system installed. In collaboration with Anzens, EMURGO, a different Cardano team, has introduced USDA, a centralized controlled stable coin.
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