Mike1third (@mike2011_) • Hey
Building something new to get rid of wallet addresses. For everyone.
Publications
- Just learned that Lens imported lens.xyz to ENS via DNSSEC. This is pretty cool since it means that all Lens handles could be resolved as subnames in the future via CCIP-Read. They could become a global onchain identity layer. @stani any plans around this?
- Just learned that Lens imported lens.xyz to ENS via DNSSEC. This is pretty cool since it means that all Lens handles could be resolved as subnames in the future via CCIP-Read. They could become a global onchain identity layer. @stani any plans around this?
- How does Lens ensure Funding for Devs who want to build clients tailored to the needs of a specific demographic group?
- Whats the endgame for Lens?
- First login into Orb for months. Damn, the new app looks and feels great.
Good job team @orbapp
- There is nothing better than having your ideas challenged by people who are much smarter than yourself!
- Just realized how big Llama Corp has become with all of its products. Incredible growth story that started with a few devs and contributors from various protocols afaik. Amazing!!
- As soon as we see the market going up a bit, CT is full of ecosystem tribalism, narrative spreading, and bashing of competitors. Appreciate any builder who just keeps building and ignores the upcoming noise from all sides.
Luckily platforms such as @lens/lensprotocol and farcaster are a great exception :)
- Has anyone tried this yet? Curious to hear how the om-boarding experience is
- Hey guys! 👋
Haven't talked about it here yet but I am happy to share that our team (cc @lens/dennis_zoma) has won the **Grand Prize** as the best project among all verticals at Constellation, the biggest Chainlink hackathon ever. 🚀
**More here** 👇
Unwallet.me revolutionizes user onboarding in Web3 by abstracting away private keys **AND** public keys with just one domain across multiple chains. Try it yourself!
It leverages account abstraction (AA) with passkeys to create seedless smart wallets and Chainlink's CCIP to natively connect to any blockchain, all while being connected to a single domain name via our ENS-like domain protocol. The whole setup process is fully gasless and abstracted for the user.
The project is deployed on the testnets of Optimims, @lens/base, Polygon, and Avalanche.
What's next? 👀
👉 We're building a unified multi-chain Smart Domain protocol for every Web3 game, app, and wallet.
👉 We are creating an SDK that will allow any game, app, and wallet to create customized ENS-based namespaces on L2 with built-in account abstraction features.
👉 We're becoming fully ENS-native with CCIP Read and L2-based Subname Registry to leverage ENS economic, technical, and social security.
Happy about any questions and feedback! 🙏
- Okay, brb building a parallelized zkEVM or parallelized enshrined zkEVM rollup
- Has anyone done a few calculations on CLV/CAC benchmarks for on-chain protocols?
- Question for the Solana Community:
How high is the probability that Jump Crypto will launch its own L1 once firedancer has been tested in prod on Sol mainnet? Especially in the scenario that it will take way longer until the whole network switches from labs client to FD.
Curious about your thoughts.
- gm lens
- gm
- Momoka is a great approach! Doing a deep dive now
- Gm! Who will be at Consensus next month? 👀
- Welcome to Aave V3 🤝 $LUSD Liquity . Aave continues to lead the way for stablecoin diversity.
- Governance has spoken
The Safety Module now supports Aave V3 Ethereum market.
- Lets fucking Ghoooooooooo 🔥
- Let's GHOOOOOOO! We are live on Testnet! 👻 gho.xyz
Stay up to date on all things GHO here (and grab the genesis edition collect!)
- gm
- gm. Long time no post. Anyone at next block expo in Berlin?
- Are there any direct consequences for lens protocol and it’s funding round where FTX ventures participated @stani.lens?
Hope everything is good man! 🙌
- gm stable bloomers 🌿
🚨 OFFICIAL COMMUNITY LAUNCH 🚨
Become a part of our community, and discuss everything around stablecoins! 🗣️
Don't forget to bring your alpha 🤫
Telegram: https://t.me/stablecoinswtf
Discord: https://discord.gg/wFD6EkW3S7
Be early, anon 👀
- Wen $LENS token 👀
- SBF joining Lens 👀
https://fortune.com/2022/11/03/exclusive-ftx-ventures-bets-on-web3-social-media-with-investment-in-aaves-lens-protocol/?utm_campaign=fortunemagazine&xid=soc_socialflow_twitter_FORTUNE&utm_medium=social&utm_source=twitter.com
- 🚨🚨🚨 ALPHA ALERT 🚨🚨🚨
WANT TO GET YOUR HANDS ON THIS EXCLUSIVE EMBROIDERED #LENS 🌿 HOODY 👕?
3*** SIMPLE STEPS TO ENTER:
1. FOLLOW @gotenks.lens ✅
3. MIRROR this Post ✅
4. COLLECT this Post ✅
A WINNER 🥇 WILL BE SELECTED AT RANDOM USING LENSDROP.XYZ ( THANKS TO @tjelailah.lens )
THE GIVEWAY WILL END ON 11/11/22 AT 11.11AM GMT, ANY ENTRIES AFTER THIS DEADLINE WILL NOT BE VALID
BEST OF LUCK #LENSFRENS 🌿 🔮
NOT YOUR CONTENT, NOT YOUR KEYS 👀
(FREE POSTAGE WORLD WIDE, WINNER NEEDS TO DM DELIVERY DETAILS, SIZE MEDIUM UK, USERS WHO HAVE NOT CLAIMED HANDLE ARE NOT ELIGIBLE*)
#LENS #LENSTER #ORB #PHAVER #LENSTUBE #LENSTA #LENSFAM #GIVEAWAY #LENSMERCH #EXCLUSIVEDROP
- gm 🇫🇮
- 👀 What an incredible amount of Alpha from @aavechan.lens in his interview with @alpha_pls. 👀 🧵👇
This is a great look into the future of @aavee.lens and the entire defi ecosystem. Put your glasses on and find a dense summary of all the alpha in the comments of this thread!
What's ahead for @aavee.lens:
- @stani.lens and the team created a multi-year vision of which only 5% has been achieved yet. 95% are still to come
- Aave is also creating institutional products that are not publicly available as of now
- Aave will launch its own crypto debit card
- Lending protocol, stablecoin, and social media with @lensprotocol will come together to form an all-in-one app with integrated wallet functionality
- Aave V3 & $GHO to be released in coming weeks
@aavechan.lens on the future of $GHO and how it will contribute to the Aave ecosystem:
- High liquidity of Aave increases the chances of $GHO being a success
- $GHO will increase efficiency as cross-product currency within AAVE
- $GHO will be natively integrated to @LensProtocol
- $GHO will also be the main means of payment & exchange in the upcoming (fintech) app from Aave
Alpha on Portals (cross-chain functionality for Aave V3):
- Pushed back in priority. Makes sense as soon as V3 is launched on multiple chains
- will come in two stages
- Portals V1: cross-chain credit lines with trust assumptions
- Portals V2: Needs actually cross-chain messaging provided by Chainlink via CCIP. Team has a weekly call with Chainlink to update on the development.
Big Alpha: Aave is looking into non-EVM chains
- Already known is the upcoming deployment on Starknet
- Aave on Starknet will be magnitudes more efficient & will allow for new and more complex algorithms
- Other non-EVM chains are attractive once TVL and user numbers are significant enough
My personal opinion on the interview and what's ahead:
- Every step of that Aave is doing contributes to the vision of creating an all-in-one web3 platform that could onboard the masses. Aave will most likely bridge the gap between web2 fintech and web3. Lens will enable the onboarding of content creators & social communities which will use web3 in an intuitive way with all the complexity abstracted away. Thereby, Aave smoothly creates native integrations of all of its products that will compete in market share with the super-apps of web2.
Props to @aavechan.lens and the team! And now imagine that cross-chain V3, $GHO, Lens, Aave institutional, debit card & all-in-one app are just 5% of what's to come.
You can find the full interview from @alpha_pls & @aavechan.lens under the following link: https://alphapls.substack.com/p/the-buildooooooor-marc-zeller-of



Props to @aavechan.lens and the team! And now imagine that cross-chain V3, $GHO, Lens, Aave institutional, debit card & all-in-one app are just 5% of what's to come.
You can find the full interview from @alpha_pls & @aavechan.lens under the following link: https://alphapls.substack.com/p/the-buildooooooor-marc-zeller-of
- @nilesh.lens wen bookmarks 👀 too much alpha on lens 🤝
- 👀 What an incredible amount of Alpha from @aavechan.lens in his interview with @alpha_pls. 👀 🧵👇
This is a great look into the future of @aavee.lens and the entire defi ecosystem. Put your glasses on and find a dense summary of all the alpha in the comments of this thread!
What's ahead for @aavee.lens:
- @stani.lens and the team created a multi-year vision of which only 5% has been achieved yet. 95% are still to come
- Aave is also creating institutional products that are not publicly available as of now
- Aave will launch its own crypto debit card
- Lending protocol, stablecoin, and social media with @lensprotocol will come together to form an all-in-one app with integrated wallet functionality
- Aave V3 & $GHO to be released in coming weeks
@aavechan.lens on the future of $GHO and how it will contribute to the Aave ecosystem:
- High liquidity of Aave increases the chances of $GHO being a success
- $GHO will increase efficiency as cross-product currency within AAVE
- $GHO will be natively integrated to @LensProtocol
- $GHO will also be the main means of payment & exchange in the upcoming (fintech) app from Aave
Alpha on Portals (cross-chain functionality for Aave V3):
- Pushed back in priority. Makes sense as soon as V3 is launched on multiple chains
- will come in two stages
- Portals V1: cross-chain credit lines with trust assumptions
- Portals V2: Needs actually cross-chain messaging provided by Chainlink via CCIP. Team has a weekly call with Chainlink to update on the development.
Big Alpha: Aave is looking into non-EVM chains
- Already known is the upcoming deployment on Starknet
- Aave on Starknet will be magnitudes more efficient & will allow for new and more complex algorithms
- Other non-EVM chains are attractive once TVL and user numbers are significant enough
My personal opinion on the interview and what's ahead:
- Every step of that Aave is doing contributes to the vision of creating an all-in-one web3 platform that could onboard the masses. Aave will most likely bridge the gap between web2 fintech and web3. Lens will enable the onboarding of content creators & social communities which will use web3 in an intuitive way with all the complexity abstracted away. Thereby, Aave smoothly creates native integrations of all of its products that will compete in market share with the super-apps of web2.
Props to @aavechan.lens and the team! And now imagine that cross-chain V3, $GHO, Lens, Aave institutional, debit card & all-in-one app are just 5% of what's to come.
You can find the full interview from @alpha_pls & @aavechan.lens under the following link: https://alphapls.substack.com/p/the-buildooooooor-marc-zeller-of



Props to @aavechan.lens and the team! And now imagine that cross-chain V3, $GHO, Lens, Aave institutional, debit card & all-in-one app are just 5% of what's to come.
You can find the full interview from @alpha_pls & @aavechan.lens under the following link: https://alphapls.substack.com/p/the-buildooooooor-marc-zeller-of
- Terrible news from Itaewon, Seoul. Thoughts are with everyone involved.
- Since our start, we have seen extraordinary traffic from Ukraine, Russia, and Latin American Countries at @stablecoins.lens 👀
This proves again how essential stablecoins are in securing value in times of local currency depreciation and economic crisis. 🏦
- Lens Devs demand building 🛠 on the cutting edge! Lens has deployed on Scroll Pre-Alpha Testnet to give devs a lead in building scalable Web3 Social Apps!
- Stablecoin wars are heating up, welcome Sam Bankman-Fried 👀
https://twitter.com/blockworks_/status/1585568286175002624?s=46&t=oGwSmQkSAOTd59nQlzwIGQ
- For the coffee lovers: This little fren is producing the most expensive coffe in the world 👀☕️
- Lego Stani Creator Of Aaave
1st edition
Quantity : 10
Price : 2 WMATIC
- Gm fam! One more lens frend to make the 100 🥰
- 👻 It's getting spooky here 👻
@AaveAave.lens recently announced a development update on $GHO! 🪙
Time for us to have a closer look and provide you with all the alpha available on $GHO so far 👀
New to $GHO? Get a little refresher in our previous thread covering all the main aspects: https://twitter.com/Stablecoinswtf/status/1545420652844265473
In its latest development update, @AaveAave.lens provided the first technical paper explaining how $GHO works.
Also, we can only recommend checking out this great thread by @ipor_intern digging into the details of $GHO's technical implementation: https://twitter.com/ipor_intern/status/1581567543914872834
Let us now dive deeper into what makes $GHO truly special and which implications this might have for the broader DeFi market 🕵️♀️
How facilitators might let the $AAVE DAO to become the leading central bank of DeFi 🏦👇
$GHO introduces the concept of facilitators.
Facilitators are independent entities granted the right to mint $GHO in a trustless manner. Each facilitator and its mechanism to offer $GHO has to be approved by the $AAVE DAO.
At any time, there is a max. supply of $GHO defined by the $AAVE DAO.
Also, each facilitator has a defined 'bucket' that sets its individual maximum supply of $GHO that can be minted.
➡️ If a transaction exceeds the supply limit of $GHO for the specific facilitator, the transaction fails.
Now, let us have a closer look into how this system could look in practice 👀
The first $GHO facilitator will be the @AaveAave v3 protocol itself.
Over time, the AAVE DAO will vote on the proposals of potential facilitators and eventually might enable them to trustlessly mint $GHO.
These facilitators could for instance be RWA-based via @centrifuge, algorithmically credit-based similar to @BeanstalkFarms or CDP-based protocols such as @QiDaoProtocol.
The possibilities are endless and only limited by the risk-appetite of the $AAVE DAO.
The facilitators will enable $GHO to potentially reach any stablecoin user group across all chains and ecosystems.
This does not only put the $AAVE DAO into the position of a central bank within the DeFi ecosystem (given $GHO is able to gain a large market share) but also places significant responsibilities on the DAO which could even transition to a systematic risk for the wider DeFi market.
It will be up to the DAO to find and implement a working and efficient governance & risk monitoring process to securely scale $GHO among multiple different facilitators.
Another key pillar of $GHO will be its interest/borrowing rate on AAVE v3.
$GHO will start with a fixed interest rate set and governed by the $AAVE DAO. This further highlights the DAO's potential role in becoming one of the key economic policy drivers in DeFi.
However, fixed interest rates are not easy to manage and likely to bring markets out of equilibrium in the long-term.
Find below an illustration on how the $AAVE DAO could implement and change its interest rate approach following the growth of $GHO 👇
With a growing $GHO market share, the $AAVE DAO might implement a separate Risk Admin Entity which might autonomously manage small interest rate changes under adversarial market conditions.
After $GHO has matured, it might make sense to switch to a floating interest rate based on a utilization curve or a similar mechanism.
So how does @AaveAave actually benefit from $GHO? 👻
This and more interesting insights into $GHO are covered in our new blog post! 📝
Follow this link to get the full alpha, anon 👇
https://stablecoins.wtf/articles/the-inception-of-gho
You will learn ...
⚙️ How $GHO works in detail
🏦 How it's intended to hold it's peg
👥 How it's governed
👀 What's next to come
... and most importantly, how $GHO integrates with and benefits @AaveAave & the $AAVE community ✅
We hope you like this thread and our new article on $GHO!
If you want to support us, please collect this post, and follow @Stablecoins.lens 💛
… To stay up-to-date with all the exciting stablecoin news ahead! 👀
Original Tweet: https://twitter.com/Stablecoinswtf/status/1584452390136135680
- 👻 It's getting spooky here 👻
@AaveAave.lens recently announced a development update on $GHO! 🪙
Time for us to have a closer look and provide you with all the alpha available on $GHO so far 👀
New to $GHO? Get a little refresher in our previous thread covering all the main aspects: https://twitter.com/Stablecoinswtf/status/1545420652844265473
In its latest development update, @AaveAave.lens provided the first technical paper explaining how $GHO works.
Also, we can only recommend checking out this great thread by @ipor_intern digging into the details of $GHO's technical implementation: https://twitter.com/ipor_intern/status/1581567543914872834
Let us now dive deeper into what makes $GHO truly special and which implications this might have for the broader DeFi market 🕵️♀️
How facilitators might let the $AAVE DAO to become the leading central bank of DeFi 🏦👇
$GHO introduces the concept of facilitators.
Facilitators are independent entities granted the right to mint $GHO in a trustless manner. Each facilitator and its mechanism to offer $GHO has to be approved by the $AAVE DAO.
At any time, there is a max. supply of $GHO defined by the $AAVE DAO.
Also, each facilitator has a defined 'bucket' that sets its individual maximum supply of $GHO that can be minted.
➡️ If a transaction exceeds the supply limit of $GHO for the specific facilitator, the transaction fails.
Now, let us have a closer look into how this system could look in practice 👀
The first $GHO facilitator will be the @AaveAave v3 protocol itself.
Over time, the AAVE DAO will vote on the proposals of potential facilitators and eventually might enable them to trustlessly mint $GHO.
These facilitators could for instance be RWA-based via @centrifuge, algorithmically credit-based similar to @BeanstalkFarms or CDP-based protocols such as @QiDaoProtocol.
The possibilities are endless and only limited by the risk-appetite of the $AAVE DAO.
The facilitators will enable $GHO to potentially reach any stablecoin user group across all chains and ecosystems.
This does not only put the $AAVE DAO into the position of a central bank within the DeFi ecosystem (given $GHO is able to gain a large market share) but also places significant responsibilities on the DAO which could even transition to a systematic risk for the wider DeFi market.
It will be up to the DAO to find and implement a working and efficient governance & risk monitoring process to securely scale $GHO among multiple different facilitators.
Another key pillar of $GHO will be its interest/borrowing rate on AAVE v3.
$GHO will start with a fixed interest rate set and governed by the $AAVE DAO. This further highlights the DAO's potential role in becoming one of the key economic policy drivers in DeFi.
However, fixed interest rates are not easy to manage and likely to bring markets out of equilibrium in the long-term.
Find below an illustration on how the $AAVE DAO could implement and change its interest rate approach following the growth of $GHO 👇
With a growing $GHO market share, the $AAVE DAO might implement a separate Risk Admin Entity which might autonomously manage small interest rate changes under adversarial market conditions.
After $GHO has matured, it might make sense to switch to a floating interest rate based on a utilization curve or a similar mechanism.
So how does @AaveAave actually benefit from $GHO? 👻
This and more interesting insights into $GHO are covered in our new blog post! 📝
Follow this link to get the full alpha, anon 👇
https://stablecoins.wtf/articles/the-inception-of-gho
You will learn ...
⚙️ How $GHO works in detail
🏦 How it's intended to hold it's peg
👥 How it's governed
👀 What's next to come
... and most importantly, how $GHO integrates with and benefits @AaveAave & the $AAVE community ✅
We hope you like this thread and our new article on $GHO!
If you want to support us, please collect this post, and follow @Stablecoins.lens 💛
… To stay up-to-date with all the exciting stablecoin news ahead! 👀
Original Tweet: https://twitter.com/Stablecoinswtf/status/1584452390136135680
- Hey fellow farmers! 🌾👩🌾
🚨 We are happy to announce 🚨
→ The addition of $BEAN by @BeanstalkFarms to our dashboard
→ Our first in-depth coin analysis (link below 🔗👇)
$BEAN is a stablecoin pegged to the USD and backed by credit instead of collateral. 🚜
It’s is algorithmically issued by Beanstalk, a permissionless fiat stablecoin protocol. The protocol aims to solve the so-called stablecoin trilemma (see also https://stablecoins.wtf/resources/the-stablecoin-trillema).
The initial success of the protocol that was launched in Sep 2017 grew the market cap of $BEAN to over $110M.
Then, the protocol experienced a governance exploit that resulted in a tremendous loss of $77M in non-BEAN assets and forced the community to halt the protocol.
This August, the protocol finally relaunched its operations.
How does Beanstalks' credit-based mechanisms work and keep $BEAN at a peg with the USD? $BEAN holds its peg based on the algorithmic control of its supply. This happens by either minting new Beans or through the issuance of a native, debt token (the so-called 'Pods') in exchange for Beans. The debt tokens are issued via Beanstalk's own credit facility (known as the Field). Thereby, the debt tokens are issued when $BEAN tokens are lent to the protocol by creditors.
The received $BEAN tokens are burned by the protocol to reduce the supply and can stabilize the peg if $BEAN is trading below a dollar.
The debt tokens are issued with a fixed interest rate calculated by the protocol (known as the Temperature) and don’t have a maturity date.
The interest rate of the debt fluctuates based on the current price of $BEAN, the debt level of the protocol, and the change in demand for the debt token. Thus, the quantity of debt tokens being issued is a function of the Bean price and the interest rate.
Further, both, the amount of debt tokens issued and their interest rate are continuously adjusted every hour by the protocol.
Once the protocol mints new $BEAN tokens based on more demand on the market, this newly minted $BEAN is distributed among different stakeholders. The split in the distribution of newly minted $BEAN is the following:
- ⅓ goes to the creditors of the protocol to repay the debt + interest
- ⅓ goes to governance participants of the protocol
- ⅓ goes into a fundraising contract to reimburse the victims of the hack
Important to know is that the protocol uses a decentralized on-chain oracle based on the shortage or excess of $BEAN in the BEAN:3CRV pool from Curve. This is done to have a censorship-resistant oracle for Beanstalk’s stability mechanism.
Further, the BEAN:3CRV pool plays a substantial role in the demand creation for $BEAN and its high liquidity creates stability and supports the peg.
The protocol even supports the depositing of LP tokens to participate in Beanstalk's governance.
It's important to emphasize that the mechanism of $BEAN comes without a tradable governance token which absorbs the risk in the case of a depeg as it has happened with $UST & $LUNA.
The risk absorbers are the protocols creditors that are compensated by the paid interest.
The beanstalk protocol also introduces a governance mechanism that incentivizes the depositing of $BEAN or LP tokens and creates opportunity costs for stakeholders who want to withdraw liquidity.
If you want to learn more about …
⚙️ How the protocol works in detail
👥 How governance is conducted
🐛 How it was exploited
🧡 How the community revitalized the system
And most importantly: What are the risks associated with $BEAN and @BeanstalkFarms?
Read our new in-depth article! 🔗
👉 https://stablecoins.wtf/articles/beanstalk-protocol
This explainer is a perfect introduction for everyone who wants to dig deeper into @BeanstalkFarms and how the protocol tries to create an algorithmic and stable alternative.
From today, we also track all relevant data & KPI's of $BEAN and provide you the easiest way of comparing $BEAN to all the other stablecoins out there. 🔗
👉 https://stablecoins.wtf/coins/bean
We hope you like this thread and our new resources!
If you want to support us, please share this thread & follow: @Stablecoins.lens 💛
… and stay up-to-date with all the exciting stablecoin news ahead! 👀👻
- AAVE is probably the best example (together with Gnosis) of how innovativeness and the willingness to expand into new verticals create an ecosystem with a unique community & brand identity.
AAVE (v3), Flash loans, Lens Protocol, $GHO, ... I am curious about what else is brewing and will join the product fam in the future 👀
- Gm fam. Have a great start into the week 🫡
- Looks very good, easier to read and follow the content flow. Actually can’t wait to see GHO there soon 🏃
- We vastly improved the layout & readability of our long-form text resources. ✨
➡️ ToC
➡️ Links to related coin-subpages
➡️ Better Typography
💙 Share Buttons
Have another read, anon. 👀
And stay tuned for the next extensive article we'll release soon. 🔔
- Love to see that almost everyone from my crypto cycle is focused on building rn 🚀
- @circlepay announced the launch of its cross-chain transfer protocol & the addition of new chains!
$USDC is pushing further to become the leading stablecoin by outstanding supply.
We explain everything you need to know about this move and what it means for the crypto industry!
How does Circles' new cross-chain transfer protocol work?
Until today, USDC could only be moved cross-chain by locking the USDC on one chain and minting a wrapped / synthetic version of the USDC on another chain.
This process led to fragmented liquidity and a bad experience for users and dApp developers.
Thus, the main goal of the cross-chain protocol is to simplify the flow of liquidity and improve the user and developer experiences to expand the usage of USDC.
To achieve this, the cross-chain transfer protocol is integrated into dApps and financial applications on the different supported chains. If a user wants to send USDC from chain A to chain B, the connected dApp burns the USDC on the source chain.
The dApp requests a 'burn' attestation from Circle and gets permission to mint the same amount of USDC natively on the destination chain after successful attestation.
The protocol is completely open-source and comes with an API.
It was also announced that Circle is already partnering with @wormholecrypto, @axelarcore, @layerZero_Labs, and others to integrate the cross-chain transfer protocol.
To support developers, Circle even started its own Discord server to provide more efficient and faster help for support tickets.
In addition to introducing the new cross-chain protocol, Circle announced the upcoming support for five additional ecosystems.
The next chains $USDC will go live on are @arbitrum, @optimismFND, @NEARProtocol, @Polkadot, and @cosmos. This would expand $USDC to a total of 13 ecosystems.
Circles' @jerallair stated in a dedicated Twitter space yesterday that, for instance, the cosmos implementation was carefully chosen to be its own IBC chain with the sole purpose of USDC issuance to stay neutral between the different app chains in the Cosmos ecosystem.
However, there are still security considerations, and Circle is exploring how the upcoming interchain security can be integrated and leveraged.
In general, bringing native USDC onto as many ecosystems as possible is a strong move into pushing to remain the dominant stablecoin for mainstream adoption. Another smart move supporting this is the introduction of the one-stop checkout.
This product enables developers to integrate the payment module of Circle into every possible application or product. This further improves the user experience for $USDC holders.
We can see a clear strategy of Circle to become the default stablecoin of choice to achieve mass adoption. However, this could also further increase the dependence of many decentralized on-chain stablecoin protocols on $USDC. The unified liquidity on each chain makes it even more convenient to use $USDC as collateral in CDP-based stablecoin protocols.
We hope you liked this thread and if you want to learn more about stablecoins and stay up to date with recent developments, please follow this page and visit our dashboard under https://stablecoins.wtf.
Previously posted on the bird app: https://twitter.com/Stablecoinswtf/status/1575799943771537409
- Who is ready to gho?
- I have heard that @stablecoins.lens is ready 👀