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.

Outlines

00:00

💡 Stable Coins on Pulse Chain and Their Future

This paragraph discusses the potential of stable coins on the Pulse Chain and their lack of backing from centralized entities like Tether or USDC. The speaker expresses skepticism about the long-term value of these coins, suggesting they may eventually lose value or become non-redeemable. The conversation shifts to the possibility of the Pulse X Stack, as a major holder of DIE, influencing the stable coin market within the ecosystem. The speaker ponders whether the value of stable coins could be maintained or even enhanced by the actions of major holders, despite not being redeemable. The potential for DIE to support the value of other stable coins or the emergence of a new stable coin project is also considered.

05:01

🤔 Competition and Value of Stable Coins

The focus of this paragraph is on the competitive landscape of stable coins, particularly in relation to their Ethereum-based counterparts. The speaker argues that Pulse Chain stable coins may struggle to compete due to the ease with which users can access and redeem wrapped versions of the coins on Ethereum. The conversation also touches on the potential for a new stable coin project initiated by Richard, which could disrupt the existing market dynamics. The speaker acknowledges the uncertainty surrounding the future of stable coins but emphasizes the importance of considering these possibilities.

Keywords

💡Stable Coins

Stable coins are a type of cryptocurrency designed to minimize price volatility by pegging them to a reserve of assets, often a fiat currency like the US dollar. In the context of the video, the discussion revolves around the potential value and redemption of stable coins on the Pulse Chain versus their Ethereum counterparts.

💡Pulse Chain

Pulse Chain is a blockchain network that is being discussed in the context of its interaction with stable coins. The video explores the idea of stable coins being copied over to this chain and the implications for their value and redemption.

💡Tether (USDT)

Tether is a stable coin that is pegged to the US dollar, meaning it aims to maintain a value of $1. It is used as a reference in the video to discuss the potential lack of backing for stable coins on Pulse Chain.

💡USDC

USDC, or the US Dollar Coin, is another type of stable coin that is backed by US dollars and is used as a reference in the video to discuss the potential value and backing of stable coins on Pulse Chain.

💡Redeemability

Redeemability refers to the ability of a financial instrument, like a stable coin, to be exchanged for the underlying asset it is pegged to, such as fiat currency. In the video, the concept is discussed in relation to the potential value of stable coins on Pulse Chain.

💡Pulse X Stack

Pulse X Stack appears to be a significant holder of a digital asset within the ecosystem being discussed. The video speculates on the potential influence this entity could have on the value and movement of stable coins on Pulse Chain.

💡DIE

DIE seems to be a digital asset or token within the ecosystem that is held by Pulse X Stack. The video discusses the potential for this asset to play a role in the value and backing of stable coins on Pulse Chain.

💡Richard

Richard appears to be a figure of interest within the discussion, possibly a key player or influencer in the blockchain or crypto space. His opinions and potential actions are considered in relation to the future of stable coins on Pulse Chain.

💡Peg

A peg in the context of cryptocurrencies refers to the practice of maintaining a stable coin's value at a fixed rate to another asset or a basket of assets. The video discusses the potential for stable coins to lose their peg, which would result in a change in their value.

💡Community Projects

Community projects in the context of the video refer to initiatives or tokens that are driven and supported by the community of users or enthusiasts within a blockchain ecosystem, as opposed to being backed by centralized entities.

💡Wrapped Version

A wrapped version of a cryptocurrency refers to a token that has been converted or 'wrapped' into a different format to be used on another blockchain network. In the video, this concept is used to discuss the potential value and utility of stable coins that can be transferred across blockchains.

Highlights

Stable coins are being copied over to pulse chain without backing from centralized entities like Tether or USDC.

These stable coins on pulse chain may eventually lose value and go to zero due to lack of backing.

There is a discussion on whether stable coins should be the primary asset held in a particular investment ratio or trade.

Vintage RH videos from the last 4-5 years show varying opinions on the value of stable coins on pulse chain.

The potential for pulse X stack, as the largest holder of die, to influence the value of stable coins within the ecosystem.

Richard's mission to protect techs against pulse skins could lead to stable coins holding value despite not being redeemable.

The distinction between the value of a stable coin and its redeemability, which are two different aspects.

The possibility of die, as the largest holder in the die ecosystem, playing a role in supporting the value of other stable coins.

Speculation on whether die could hold a stable value or transition into a different type of stable coin.

Richard potentially creating a new stable coin project in the future.

The competition between pulse chain stable coins and their Ethereum counterparts in terms of value and redeemability.

The challenge of competing with wrapped stable coins from Ethereum that can be redeemed.

The exploration of different stable coin options, including the potential for die to hold a non-pegged value.

The consideration of community projects as a driving force for stable coin value and utility.

The overarching uncertainty and the need for strategic investment in stable coins on pulse chain.

Transcripts

and that's the whole conversation of

stable coins because the stable coins

are getting copied over to pulse chain

are not going to be backed by tether

usdc or any of these other centralized

entities and so they're basically

short-term throwaway coins that are

going to eventually go to zero you know

or or they're gonna drop so much because

they have no value on the pulse Chain

versus their ethereum counterparts

they're non-redeemable so

I would love to know what you guys think

about stable coins being maybe the only

thing that you utilize in this ratio

trade if you are deciding to hold it and

what you guys think the timing of that I

have my own thoughts so I really want to

hear what you guys are thinking as well

so I'll go first because I'll be I'll be

quicker I think two points uh one I've

been clipping a ton of vintage RH videos

no vintage and notable ones over the

last one two four years four five years

and the last couple years I've came

across many many clips and I've got them

scheduled to come out at some point uh

maybe in the next few weeks or so of him

talking about people asking about stable

coins on pulse chain and him giving

different answers and what I found was

interesting was you know people say oh

yeah they're not gonna have value

obviously and I don't you know don't

quote me on it or anything like that but

I'm pretty sure I got the gist of his

responses a lot of time were you know

how do we know they're not gonna add

value

what if they bond the different stuff

what if you know and now we have uh so

that point gets into uh pulse X stack

address uh correct me from home guys

it's the largest holder of die

in the ecosystem number one

and what what moves are they going to

make are they going to make any moves

with the liquidity you know you could

talk about uh pxe hex parity all that

stuff but the stable coins if you're the

largest holder you got some power you're

probably able to make some moves there

if they wanted to and how nuts would it

be you know again Richard's mission is

Glory if he's here to protect techs

against the pulse skins if his whole

thing is successful the project how

insane would it be if not that stable

wins wouldn't be redeemable because he

said obviously not redeemable because

they're not they're on the other chain

the company's Never Gonna honor it blah

blah blah obvious point on that but them

having value versus being redeemable two

different things

that's what I'll say on that

yeah very interesting point

yeah I mean uh

it's gonna be a wild trade like you said

you know uh it's not gonna be worthless

but it's also not gonna hold any sort of

uh a peg right and once you see stable

coins lose Peg uh I mean I can't get

further away from them to be honest so I

I mean you know everybody's gonna have

their strategy and you know I hope I

hope people uh do it the right way but

um I don't know what way that is to do

it the right way

yeah I don't think there necessarily is

I think it's just something to consider

and the I think there's two tiers of

stablecoin in my opinion there's the

there's dye you know the decentralized

one they have a protocol where you know

there's enter like there's the OA or the

sort of Zac uh wallet has like 200 and

something 270 something million die or

or more now I can't remember what it is

um but they have I think they're the

largest holder in die at the moment and

so they themselves I mean there's this

is this is not gonna happen necessarily

but with the allocate of tokens they

have I'm wondering if they alone could

depending on

what I don't know what the dye protocol

allows for collateral but assuming that

you know they have

an absolute ton there's a there's a

potential to have a ton of uh pulse from

a centralized from an entity within the

ecosystem you know to back those dollars

maybe die is one of is is the odd one

out that actually maybe assists in the

other stable coins holding some Peg

um but maybe it's also the only one that

actually starts out and holds its value

relative to the other stable coins you

know that's kind of what you where your

thoughts lead me there and I'm not sure

if I'm 100 on the right track but it

makes me wonder

I think there's two options for stable

coins other than you know the community

projects like like alone to Power City

and those sort of things uh the two

options in my mind are what if some I

mean crazy idea I have nothing to back

this up but other than just uh you know

again again the stuff I've heard Richard

talk about before about these type of

topics and what I've seen with uh you

know full sex sack being the number one

die holder what if die maybe it doesn't

hold a peg but maybe it holds some sort

of value maybe it's not one dollar maybe

it's a half a dollar maybe it's one

dollar whatever it is what if that

becomes some sort of stable coin or some

version of a stable coin that gets used

or Richard creates a the next coin is a

stable coin it's not the wallet uh it's

a stable coin maybe that's the next

project uh those are two thoughts uh I

have on that well I think at the end of

the day they're still gonna have to

compete with the uh the rap version of

the stable coin that's uh brought in

from ethereum right and there's just not

going to be any competition like being

able to grab a wrapped version Bring it

across the bridge and actually be able

to redeem it that kind of value is just

not going to dissipate and and you

cannot really compete with that too well

so those are the three options I didn't

even I didn't even yes of course that's

the number one option outside of the but

outside the bridge stuff

what if Diaz and value or what if uh

Richard starts a new stable one yeah

great Point gif