The Chopping Block: USDH Bake-off—Native Markets, Validators & the “Beauty Contest” Debate - Ep. 903

Bearish

• $STABLES— The stablecoin issuance business model will deteriorate as chains use competitive threats and public auctions to extract better economics from issuers, compressing margins across the industry

  • “I think normal fiat-backed stablecoin issuance is not going to be as good of a business as people think it is at the moment in a few years' time.”

    Guy·43:50Hear it

  • “The Kochian kind of optimal outcome is that there's not a different stablecoin in every chain. The optimal outcome is just that you threaten to launch a stablecoin in your chain and you use that threat as leverage against the one stablecoin to get most of the yield.”

    Haseeb·45:32Hear it

Not investment advice.