We definitely need stable token for implementing escrow on CryptoTask (for freelance jobs). Mislav, what is the current status of your stable token solution? Is it still in research or production ready? Is it something that other teams / AE ecosystem can use?
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Definitely important. The question is how to peg it. So far it seems SAI is stable.
I think is a very important goal to have a stable coin, but is not a easy task.
I think that the way DAI gets stable is the most fair one. Because the participants gets incentives to collaborate.
I wrote an article about how dai works and how is the process to get peg to usd
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I also followed MakerDAO and attended their governance calls during their early days. Creating stable coins is a lot of work, and needs full attention from a dedicated group.
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I’ll try to ask around as well and see if there are any updates on your proposal. Good on you for taking that step/initiative!
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If they are willing to support this, I would say it is definitely worth the try. Any kind of cooperation with Maker will be perceived well in the community.
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DAI is a better option. SAI is obsolete…
Followed up with Rune.
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The biggest challenge for pegged coins (a coin on aeternity that is pegged by Euro or CHF) is regulatory. Someone has to run a business that does the exchange in both directions.
Stable coins, like DAI, are very interesting though. I also like them a lot and I think it is worth a try and the Foundation is open to receive applications regarding this topic (it should be more than just an idea stage with some code and “skin in the game” already, the idea itself is straight forward).
This can be done totally decentralized as a smart contract, I’m pretty sure too that this can be solved.
Great!
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MakerDAO Dai 存款利率提高至 8.75%!
Maker 经执行投票通过新提案，Dai 存款利率提高至 8.75％、Dai 稳定费率提高至 9%、Sai 稳定费率提高至 10％ 以及 Sai 债务上限降低至 3000 万正式生效。
而AE呢，持有AE token，价值是越来越低？那为什么还要持有AE token？请团队认真考虑一下这个问题！！！
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We’ve been creating a proposal together with @lukaskywalker.chain to do a DAI -> Aeternity bridge to cover the period before a native stablecoin is created on Aeternity.
Also I was speaking with people from Maker and they are all saying that they want to make MakerDAO a multi-chain thing. They were even willing to put some cash for this.
My proposal - let’s talk with Maker so that they can put a part of cash, and then the Foundation gives the rest and we build the bridge. It would be easiest that way.
A lot of projects on Aeternity are in desperate need for a stablecoin (for one we at AMPnet are hacking it with a “closed” centralised coin but we don’t like it a bit). Dai is a great project, the bridge is not too difficult to build.
The bridge would in itself be a DAO with a governance system guided by Aeternity, Maker and a consortium of other companies willing to verify “bridging” transactions from Ethereum to Aeternity.
If the foundation is willing to give this a go - so are we!
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The foundation is very open for such a proposal. It needs to be outlined well. How much money is needed, who will maintain it for how long etc.
I’m looking forward to go more into details here.
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This is not only a good idea. It is a great idea. I’ll go further and say that it is required for the present. If anyone opposes a stable coin as necessary, then - with all due respect - they are not paying attention to the crypto sphere. AE should have it’s own native stable coin. There does not even need to be one business using AE as a blockchain solution for this to be true. Exchanges would implement an AE stablecoin.
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There are at least two businesses in this thread that have said they need it for their business model which uses AE. This is just the tip of the iceberg, and this one point argues for a stable-coin NEED!
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Ethereum transaction have been surpassed by it’s own token & stable coin proxy DAI. So, it’s a very major use case. See Vlad’s linked article above.
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In trading today, Tether surpassed bitcoin in daily transaction value by nearly 50%. Why? And if I remember correctly, about 4 or 5 stable coins rank in the top 20 of all daily transaction value in the crypto space. If you want AE blockchain to be USED, not just potentially useful, then create what is being used.
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STO’s - what are they but stable tokens, just ones tracking the value of real world assets other than fiat currency. So, if you are excited about STO’s then get onboard with stablecoins. And this should be as soon as possible, because that is what the businesses want or rather what they need now.
There has been much criticism about AE not marketing the block-chain. If the foundation could only do one thing to fix that, they perhaps should sponsor the development of a stable coin. The marketing will then take care of itself. And businesses requiring something stable would come. Developers would come. Having just the best smart contract programming language isn’t enough to get that traction, imo. If that were true, then everything would be written in Python 
joking…but isn’t there much truth in the main point?
I appreciate those that are excited about block chain and what it can do for people. I have been tracking this for nearly ten years myself. But the most efficient path forward might require adapting with the current (fiat) system as the crypto-sphere develops. That means accommodating needs for fiat, until some future time that people can be weened off of fiat. To be too rigid and disregard fiat stable tokens is like expecting to raise kittens with steak when what they need now is milk. Ok, that is an odd analogy, but hopefully it makes some sense.
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Afaik innovative stable coin and other DeFi projects are very welcome to apply for starfleet India.
If you want to build (and market) a stablecoin on æ best way would be to introduce your approach and innovation in a new thread in this forum.
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Would you support building a euro stablecoin with Bitcoin as collateral?
Thanks Yani
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sounds quite inefficient to me. backing something stable with something very unstable is not really a good idea IMO. it will require a huge amount of collateral and might run still into margin calls. maybe I am wrong.
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I have an idea of a stable coin!
We can back AE stable coin with DAI in completely transparent way.
We will use the advantages of DAI (stable price and liquidity) and the transparency of blockchain + the cross-chain interoperability possible via JellySwap Protocol.
If you are interested I can send more details in this thread
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It’s a great idea
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Please please please
it doesn’t have to be all stablecoin. I think we can collateral some of them with an æ coin. I think it would be best to divide the risk 3. tether, dai, æ coin.thus, risk of a 1 coin being 0.99 for 1 dollar or 1 euro collateral can be distributed.
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