We currently don’t have a stablecoin for our national currency but I think it would be really convenient to have one. Right now, I only imagine how great it would be if people can exchange ADA or any other coins with our national currency without having to use the traditional finance/banking system.
So I’m entertaining the idea of issuing our own stablecoin. From my initial assessments, the technologies I need from the legacy finance sector are already available. I can make the stablecoin directly withdrawable in cash to any local bank account or even ATMs.
I’m thinking of launching such stablecoin here on the Cardano platform when it is ready.
The only question I haven’t been able to find an answer to, right now is the economic incentive. How does one make money from launching and/or maintaining a stablecoin? How do the maintainers of existing stablecoins like USDT, USDC, BUSD, PAX, etc. get incentivized for their work?
The only way I can think of is from transaction fees. But I haven’t actually found anything talking about this. Can anyone share any info on this?