What value will stable coins have on PulseChain? (DAI, USDC, LUSD, PXDC, CST, ???)

Summary

The conversation revolves around the potential of stablecoins on the Pulse Chain, questioning their backing and value compared to their Ethereum counterparts. It explores the possibility of decentralized stablecoins gaining value and the role of Pulse X Stack as a major holder of DIE. The discussion also considers the potential for a new stablecoin project from Richard, the creator of Pulse Chain, and the challenges these stablecoins may face in competing with established Ethereum-based stablecoins.

Takeaways

• 🤔 The discussion revolves around the potential value and future of stablecoins on Pulse Chain, specifically questioning whether they will hold value compared to their Ethereum counterparts.
• 💡 There is skepticism about stablecoins on Pulse Chain not being backed by centralized entities like Tether or USDC, leading to concerns that they may eventually lose value or become obsolete.
• 📈 The speaker hypothesizes that the value of stablecoins could change significantly on Pulse Chain, especially if they are not redeemable and are considered 'short-term throwaway coins'.
• 🎥 Vintage videos of notable figures discussing stablecoins on Pulse Chain show varied opinions and predictions, highlighting the uncertainty and evolving nature of this topic.
• 🔄 The potential for Pulse X Stack, as a major holder of DIE, to influence the stablecoin market within the ecosystem is discussed, suggesting they could have the power to make strategic moves.
• 🚀 Richard's mission to protect techs against Pulse Skins is mentioned, hinting at the possibility of non-redeemable stablecoins gaining value if the project is successful.
• 💭 The idea of stablecoins having value versus being redeemable is explored, with the notion that they could still hold some worth even if not pegged to a specific currency.
• 🔮 The speaker contemplates the possibility of decentralized stablecoins, like those backed by DIE, playing a significant role in maintaining the value of other stablecoins on Pulse Chain.
• 🌐 The competition between native Pulse Chain stablecoins and those brought in from Ethereum is considered, with the latter having a clear advantage due to their redeemability.
• 🔄 The potential for new stablecoin projects or the adoption of alternative stablecoins that could hold value on Pulse Chain is discussed, suggesting a dynamic and evolving landscape for digital currencies.

Q & A

What is the primary concern regarding stable coins on pulse chain?

The primary concern is that stable coins on pulse chain are not backed by centralized entities like Tether or USDC, making them potentially short-term and valueless compared to their Ethereum counterparts.

What is the difference between stable coins on pulse chain and those on Ethereum?

Stable coins on pulse chain are not redeemable because they are on a different chain, whereas those on Ethereum are backed by centralized entities and maintain a stable value.

What role does pulse X stack play in the ecosystem?

Pulse X stack is the largest holder of die in the ecosystem, which potentially gives them significant influence and the ability to make strategic moves regarding stable coins.

How might the value of stable coins on pulse chain change?

The value of stable coins on pulse chain might fluctuate significantly, as they are not guaranteed to hold their peg or value, unlike their Ethereum-based counterparts.

What is Richard's mission in relation to stable coins?

Richard's mission is to protect techs against pulse skins, and if successful, it could lead to a scenario where stable coins on pulse chain hold value or become part of a new financial system.

What is the potential of die in the context of stable coins?

Die, being held by pulse X stack, could potentially assist in maintaining the peg of other stable coins or even become a form of stable coin itself, depending on the protocol and collateral allowances.

How might the community projects like alone impact the stable coin landscape?

Community projects could introduce new dynamics and competition within the stable coin market, potentially offering alternative options that are powered by community efforts.

What are the possible outcomes for stable coins on pulse chain?

There are several possibilities: stable coins might lose their peg and value, die could hold some value and assist in stabilizing other coins, or Richard could introduce a new stable coin that becomes part of the ecosystem.

How does the introduction of wrapped stable coins from Ethereum affect the pulse chain stable coins?

Wrapped stable coins from Ethereum pose a challenge to pulse chain stable coins because they retain their value and can be redeemed, making them more attractive and difficult to compete with.

What is the significance of pulse X stack's position as a major holder in the ecosystem?

As the largest holder of die, pulse X stack has the potential to influence the stable coin market significantly, either by supporting the value of certain coins or by making strategic moves within the ecosystem.