What value will stable coins have on PulseChain? (DAI, USDC, LUSD, PXDC, CST, ???)
Summary
TLDRThe 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
💡 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.
🤔 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.
Mindmap
Keywords
💡Stable Coins
💡Pulse Chain
💡Tether (USDT)
💡USDC
💡Redeemability
💡Pulse X Stack
💡DIE
💡Richard
💡Peg
💡Community Projects
💡Wrapped Version
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
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