Hello to all,
An idea has been on my mind for some time now and I’ve come here to discuss it, to find out what you think about it and whether it’s worth putting more energy into it or not.
I was thinking of a different way to create a stablecoin and my idea is this: What if we have to sacrifice one coin to get another coin?
My initial idea was to burn a coin in order to exchange its current value in USD represented by a new stablecoin (let’s call it ASH). Let’s say ETH = $2000 USD, in this case, burning 1 ETH would generate 2000 x ASHes
Then I thought, well, why would anyone just give up on their coins like that without being able to reverse it at a later time. I then thought of a lottery system to generate the stablecoins. ASHes would then be distributed to the winners of this lottery. One would have to buy a lottery ticket and the coins with which he purchased the tickets would be burned and the USD equivalent at the time of the trade in ASHes would be added to the lottery prize.
This is still just the early state of a weird idea so, please, be constructive.