Stable.Report, Mar. 11 — Mar. 17
Stablecoin News Of The Week:
Who Will Trust Facebook Bank? 👍
Consumer trust in Facebook is low, and after events like those exposed with Cambridge Analytica — can “FaceCoin” be embraced by the public to serve as their banking service? What about a hypothetical utility token to monetize your data? The author is cautiously skeptical given Facebook’s huge network.
Tether Quietly Updates Its Collateral Breakdown, Which Includes ‘Cash Equivalents’ and Third-Party Loans 🤐
The FUD surrounding Tether continues, after their website and Terms of Service was updated last week, stating that Tether’s collateral “…from time to time, may include other assets and receivables from loans made by Tether to third parties” Tether has issued over USD $2.5bn and this announcement is setting off alarms.
-via The Block
Pan-Stablecoin Risks Highlighted as Tether Diversifies Reserves 📊
From Tether’s FUD to MakerDAO’s stability fee rate hike, this brief article reviews the changing stablecoin space with graphs on stablecoins’ volatility, discounts and outstanding supply.
SEC’s Crypto Czar: Stablecoins Might Be Violating Securities Laws 🚨
Speaking at SXSW, the SEC’s Senior Advisor for Digital Assets Valerie Szczepanik said algorithmic and digital-asset backed stablecoins may be considered securities. It all comes down to the expectations that stablecoin issuers impart on their buyers. Her advice for crypto startups looking to stay on the Commission’s good side? Ask for permission, not forgiveness.
-via Decrypt Media
IBM Hints at Stablecoin Cross-Border Payments Solution for Financial Institutions 🤖 More details will be announced next week. -via CoinTelegraph.
Update: IBM’s Blockchain is Live and Bank-Issued Stablecoins Are On Their Way 📺
In this video interview, Global VP of IBM Blockchain, Jesse Lund announced the commercial release of IBM Blockchain World Wire. Their entrance comes with support for 72 countries, 48 currencies and 44 distinct banking endpoints, making it an impressive network to start in the cross-border payment space.
PlasmaChain Now Supports 6 Stablecoins 👏
The stablecoins supported are in the top 100 ERC-20 coins by marketcap, these are: USDC, TUSD, DAI, PAX, GUSD and EURS. Integrating them into a PlasmaChain is like putting them on steroids — offering much shorter time-to-finality (approximately 15 seconds vs 3 seconds).
-via Loom Network
Mo’ Moneys, Mo’ Problems — Part II: Explaining CENTRE, The Visa of Stablecoins 💳
Building up on the first post of the series describing the need to create a stablecoin Aggregator-Distributor, this post describes how Circle’s CENTRE emergence mirrors the history of credit card companies and asks the question: Do we really want a winner-take all blockchain Visa? Isn’t there a more decentralized alternative to maintain a vibrant, competitive environment?
Carbon and AZTEC Protocol Partner to Bring a Privacy Stablecoin to Ethereum 🤝
Carbon will leverage AZTEC privacy technology for Carbon’s CUSD stablecoin. The privacy-enabled CUSD is set to go live on the Ethereum mainnet in the third quarter of 2019. This partnership would create the first privacy-wrapped fiat collateralized stablecoin on Ethereum.
-via The Block
Meet Yoni Neeman, COTI’s Full Stack and Blockchain Developer 🗯
An interview with a COTI team member to share his past, current and future projects — from developing COTI Pay and COTI-X, all the way through to current tasks geared towards the MainNet launch.
Universal Tokens Now Available on CredEarn 🎉
Cred becomes top stablecoin interest provider by supporting Universal Dollar and Universal Bitcoin. Read more about the family of Universal Tokens here.
Stablecoins As An Evolution Of Money For A Digitized World 🇹🇭
This article explains centralized fiat-backed stablecoins and presents Everex’s Thai Baht DFC stablecoin as the first product offering of its type to cater to individuals and merchants in the South Asia region.
Crypto Takes the Stage at SXSW 2019 🎤
Last time the Winklevoss spoke at SXSW in 2016, there only 10 sessions on crypto and Gemini had just launched operations in New York with 25 employees, with Bitcoin trading at ~$400. This time there was an entire track dedicated to crypto, the company has 200 employees and Bitcoin is trading at ~$4000. This post talks about the maturing crypto market, and Gemini in particular.
Kinesis Updated Timelines ⌚
In this post, we learn Kinesis is making some strategic changes and updated their blue print and white paper accordingly. Some of these changes include changes to their token valuation, discounts and updated minting and release dates for different products and initiatives.
-via Kinesis Money
#PiDai for #PiDay: Tweeting Crypto For Good 😇
MakerDAO encouraged its users on Pi Day (March 14th) to do good and donate DAI, xDAI or Ether through the magic of the twitter bot @sendcrpyo to a list of charities. MakerDAO pledged to match any donations that help meet the first three thresholds for each charity.
MakerDAO CEO Explains How Dai’s Soft Peg to $1 “Became Really Soft”🤓
High demand to borrow DAI has forced the community to vote on raising the fees to protect the peg to $1 by lowering demand. MakerDAO’s founder, Rune Christensen, explains in plain english how this mechanism helps stabilize the demand and keep the peg.
-via Breaker Mag
MakerDAO Governance & Risk Call: Stability Fee Hike Post-Mortem 📝
The first edition of a weekly series summarizing and analyzing the MakerDAO Governance & Risk calls. A great way to digest and make sense of MakerDAO’s governance.
-via The Block
MakerDAO Weighs Fourth Fee Hike as DAI Stablecoin Remains Below $1 🙇
MakerDAO governance participants are debating a fourth increase to the amount charged to users of its U.S. dollar-pegged stablecoin DAI. The Interim Risk Team has placed three proposals into the voting system to raise the Dai Stability Fee by 0%, 2%, or 4%.
-via CoinDesk and Reddit
Unveiling the New Paxos.com 🎈
This facelift merged their crypto exchane (itBit) and related services under one domain, and paves the way for major business and product developments in the Paxos pipeline.
Paxos Will Potentially Tokenize Stocks and Precious Metals In 2019 📺
In this video interview, Paxos CEO and Founder Chad Cascarilla explains Paxos business model and future business plans to tokenize other assets and securities to help them move more efficiently and safely on the blockchain.
-via Fortune’s The Ledger
Synthetix to Use Chainlink to Decentralise Price Feeds! ⛓
Synthetix is working with Chainlink, the leading oracle network, to enable decentralised price feeds across the Synthetix trading platform. Integrating with Chainlink will allow anyone to build and run an oracle to obtain price feeds for synthetic assets (also called Synths) for the recently launched Synthetix.Exchange.
Centralized Governance? Not with Xank’s Masternodes
A post explaining the Dash network and how Xank develops upon its framework to adopt an idea meritocracy that is based on Xank’s one-of-a-kind reputation system for governance.