Is there any stablecoin project planned for ADA blockchain?

Hello!

We’ve seen last few years some stablecoins arrive, based on USD and other goods.

I haven’t seen any plan for a stablecoin when Cardano release tokens and smart contracts on ADA blockchain. Is there any?

Just a few months ago, Waves had released their USDN. It seems very promissing, because instead of a company claiming to have enough USD/gold/etc to back their stablecoin, Waves’ Neutrino protocol viabilizes a smart contract to emit or hold back tokens or main currency, to feed offer or demand as needed, so that its stablecoin remains paired with the real goods. That’s way safer and more decentralized than a unique company doing this job, and doesn’t require trust.

I personally believe stablecoins are very promising on popularizing cryptocurrencies for mainstream. Many ppl aren’t willing to handle volatility.

I also don’t like currencies that stimulate holding, because I believe that currency should circulate on the market and promote trades of goods, not be the goods itself. IMHO it’s better to have the main currency circulating, and have some other tokens aimed at being hold, in example staking or leasing it.

It’d be awesome to be able to buy a gold based token and then stake/lease it and earn interest from that, being free from the main currency volatility.

ADA seems very promising as it’s being developed to be scalable and and have high TPS and better coped with official finance systems. In a visionary future, I could monthly trade my salary for ADA, then trade my savings to a gold-based token and stake it, and trade my spending money to a USD-based token to do payments over the month without worrying, and leave the high risk money as ADA to hope that its value increases.

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Charles recently tweeted about this topic:

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Interesting. I guess it won’t come out anytime soon, but I’m glad they are thinking about it.

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