So basically there is no risk free money. Crypto is no worse then the alternatives. I think protocols like @UXDProtocol will eventually power stable payment rails for users.
1/ Most stablecoins pick two: stable, decentralized, or capital efficient.
uxd.fi tried approaching the problem differently with delta-neutral mechanics instead of the usual overcollateralized design.
2/ The interesting part isnโt just the stablecoin itself, but the idea of making yield native to the system while keeping exposure hedged.
A different direction from the typical โprint and prayโ model.
3/ Still one of the more underrated experiments in onchain stablecoin design.
Feels closer to crypto-native market structure than a wrapped version of traditional banking.
DeFi governance update โ 26 August 2024
๐ Proposals:
โฃ @eulerfinance establishing XP points program
โฃ @swiss_staking requesting 21M CRV from the DAO for @curvefinance development
โฃ @arbitrum increasing the L2 Core Timelock delay
๐ณ๏ธ Votes:
โฃ @UXDProtocol distributing its $52M insurance fund
โฃ @mangomarkets settling with the SEC
โฃ @MakerDAO moving into Phase 2 of PSM migration