It is the twelfth blockchain after Ethereum, Solana, Avalanche, Polygon, Algorand, Tron, Omni (Bitcoin), EOS, Liquid Network, Kusama and Bitcoin Cash.
According to the company, the market capitalization of USDT exceeds $72.5 billion, with Tron ($38.73 billion) and Ethereum ($36.81 billion) blockchains accounting for the largest portion of the stablecoin offering.
Recall that quite recently Tether launched its stablecoin on the Polygon network.
I still do believe that there is a place for an own stablecoin, just as it was initially planned. (further discussions and explanations in this thread).
About Tether: we all know they are kinda shady. I personally don’t trust them 100% (one reason), and would have a bigger trust in our own stable. But we learnt from UST situation that a simple algoritmic stablecoint won’t work out.
No way if radix wants to be defi we will need stable coins for the foreseeable future as long as the coin is linked to real world money it is fine, radix cannot rule defi without a stable coin.
Yes that’s the scheme they do “Ponzi” is not an algorithm problem that arises but the scheme can not make it stable. because it’s just a ponzi like Token squid game which previously went viral and disappeared taking away a lot of investors’ money
The only way to create a stable coin that works is to have it linked to real money or have it over collateralized with real world assets like gold ect , shade protocol is doing something like this
Check out some of the teams thoughts on Luna/UST and stablecoins here:
Dan/Radix have been thinking about stablecoins since 2013 - if they do implement a stablecoin it won’t be a hastily thought of one that can introduce vulnerabilities into the network like in the case of Luna.