Great to read this!! would also argue another pillar of a decentralised blockchain is having an algo stable coin on the base layer with no KYC. super important so that trading back to stable value can be done independently of any DEX or CEX.
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The best case is having a stable value coin at the base layer. It is a design choice that will improve survivability, but it not required. As long as the three other requirements exist it will work even if the stable value coin is at a higher layer. How smoothly would depend on the implementation & design.
These could be implemented, in theory, similar to break away community tokens.
That’s true. But I’d feel a lot more secure it if were on LI. Security is paramount on this issue.
Agreed having a stable coin coexist on layer 1 makes it more secure.
Can we start calling HBD a value coin instead of an algo stable coin? It conveys something more important than its technical natural.