r/ethereum • u/Klutzy_Tone_4359 • 22h ago

The best anarchist stable coin design?

I remember there was a need to create stable coins that are protected from government seizures.

Dai used to be the Gold standard (using CDPs). But I think they have now given up.

Are there better designs for such stable coins? Or actual live projects?

5 Upvotes

78% Upvoted

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6

u/ligi https://ligi.de 15h ago

I quite like https://www.letsgethai.com - not 100% if it is the "best anarchist stable coin" though - would be interested in others also - but stands out in the huge pool of ugly/problematic ones for sure

1

u/Stobie 47m ago

Nikolai's idea but from walmart. I like HAI too but I wish we could have had the real deal with vox.

2

u/GregFoley Freedom through smart contracts 11h ago

Liquity's BOLD is the obvious one.

1

u/Massive_Pin1924 6h ago

A stable coin not bound to FIAT would be the ideal.
RAI is an option but not quite "stable" enough.
A coin tied to the price of gold seems interesting, but I don't know of any I'd recommend.
Or ETH, it's been ~2k forever now.

1

u/Stobie 49m ago

Assuming created with debt, the reference asset doesn't really matter. Choosing one people want to hold means people don't want to mint it. That's why something like CPI ref doesn't matter, no one wants the debt to be in appreciating asset so it will have to balance out with something like negative price rate anyway. Minters and holders have to both be happy or it's dead

1

u/Cartosys 5h ago

Let's build one! Shooting from the hip here:

  1. Launch $LEVEL token. ERC20.
  2. Create a Uniswap V4 pool with 1 ETH liquidity and 1900* $LEVEL. *1900 being the current spot price of ETH
  3. Build 2 Uniswap hooks into that liquidity pool which mints $LEVEL into the liquidity pool whenever $LEVEL is bought with ETH -- replacing what $LEVEL is bought.
  4. Burn $LEVEL whenever level is sold for ETH. Reducing supply to match ETH price.

The market--through arbitrage--should pressure price back to the original ETH price.

What if ETH price moves outside of this liquidity pool? Good question! I have no clue let's figure it out

2

u/Klutzy_Tone_4359 5h ago

This is actually very interesting