Skip to content
This repository has been archived by the owner on Jun 8, 2023. It is now read-only.

⚡️ Ditch USDT for a more trustworthy alternative #108

Open
Rikj000 opened this issue Aug 20, 2021 · 0 comments
Open

⚡️ Ditch USDT for a more trustworthy alternative #108

Rikj000 opened this issue Aug 20, 2021 · 0 comments
Labels
Feature - Enhancement Update or improvement to existing feature Planned Planned feature, improvement or bugfix (not being worked on yet)

Comments

@Rikj000
Copy link
Owner

Rikj000 commented Aug 20, 2021

Tether - USDT has proven itself to be a truly sketchy stable coin,
which I don't wish to keep using in the future!

We will have to be more patient before we can actually make a switch to a more trustworthy option though,
because exchanges still need to adopt more alternative stable coin pairs for our purposes.

In the near future we should be able to switch to one of the following more reliable alternatives though:

  • TrueUSD - TUSD: Does monthly audits, not backed by a single instance, publishes their bank account contents daily, proving that the money is actually there.
  • USDCoin - USDC: 2nd largest stable coin, more trustworthy then Tether, however they also disclosed that they aren't fully backed with actual cash! They also do audits though.
  • Dai - DAI: A truly decentralized stable coin, not backed by a company or cash, but by a formula & crypto funds provided by the people!
    I truly like the idea behind algo-stable coins, however history has proven that these always are at risk of falling into a death-spiral..

FYI:

  • Here you can check the top stable coins.
  • This video gives a quite clear explanation of alternative other options which are available.
@Rikj000 Rikj000 added Feature - Enhancement Update or improvement to existing feature Planned Planned feature, improvement or bugfix (not being worked on yet) labels Aug 20, 2021
@Rikj000 Rikj000 changed the title Ditch USDT for a more trustworthy alternative ⚡️ Ditch USDT for a more trustworthy alternative Sep 5, 2021
@Rikj000 Rikj000 changed the title ⚡️ Ditch USDT for a more trustworthy alternative ⚡️ Ditch USDT and switch to UST Apr 1, 2022
@Rikj000 Rikj000 changed the title ⚡️ Ditch USDT and switch to UST ⚡️ Ditch USDT for a more trustworthy alternative Jun 26, 2022
Sign up for free to subscribe to this conversation on GitHub. Already have an account? Sign in.
Labels
Feature - Enhancement Update or improvement to existing feature Planned Planned feature, improvement or bugfix (not being worked on yet)
Projects
None yet
Development

No branches or pull requests

1 participant