Stable coins have made selling speculative coins easy. There’s no need to cash out into fiat. The second problem that I think stable coins will solve is day to day transactions. I would love to buy my coffee using a fast and secure stable coin. So far, stable coins are either backed by fiat or they need locked collateral. Recently I found out about a new stable coin named JAX. It’s pegged to the hashrate of Bitcoin mining. The coin is only mined when there’s demand. It requires block rewards to be burnt. I find this approach interesting. What are your thoughts on this approach and how do you see it evolving in the long term?
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