In my opinion, if want to open defi on IC, you must have the support of stable currency， usdt usdc.Just integrating BTC is not enough
you’ll be able to bridge both over from ETH once Terabethia has launched.
afaik there are no plans on the roadmap for integrating with USDT or USDC: https://dfinity.org/roadmap/
IMO it should be a top priority to convince USDC to natively issue on the IC.
Definitely. It would be negligent not to try.
Arent cycles or XTC technically a stablecoin?
No…in the sense that while cycles are directly linked to SDR, SDR itself is not. " SDRs are units of accounts for the IMF, and not a currency per se " [
Is there no hope for an algorithmic stablecoin on the IC after the Terra fiasco? Can cycles not fulfill that role? (I am no expert on this topic, but surely someone is working on this???)
Certainly an overcollateralised stable coin would be possible, similar to DAI, based on ICP. I guess we still need oracle integration before that can happen though?
I’m down for this! Probably there’ll be native stable coins on IC in the near future, but it will take a long time to educate users to accept it and use it, introducing mainstream stable coins can well avoid that dilemma and will be good for the long-term development of DEX & DeFi projects on Dfinity!
If Defi is not successful, the prospect of IC chain will be bleak; Stable currency is very important。From the current performance of cycle, it can not be used as a stable currency. A lot of work needs to be done by the organization
But we can’t do anything with them outside of the ICP ecosystem. A proper stable coin like USDC would be highly beneficial for the DeFi ecosystem we are trying to build. We can do via bridges but official support from circle or other major stable companies would be really nice.
I don’t think this could be an issue, once the ecosystem is hot enough, the USDT, USDC, BUSD, etc will come here, all we need to do is driving the ecosystem, first thing is the TOKEN standard!
It is expected to wait a long time for the token standard to be unified
We’re trying to do it in the next few weeks actually, at least to agree on the minimum viable standard.
Bumping this thread as I think this is still something that needed on the network.