Stable Token on AE - DAI bridge

We are building CryptoTask freelancing market on AE and as there is no stable token currently, we are thinking of making a decentralized DAI bridge as a side project, but that would be useful to the community as a whole.
The idea would be to have two smart contracts, one on ETH side and one on AE side, and utilize AE oracles as tx validators - they would check that AE-DAI gets generated only if ETH-DAI was deposited and locked and vice-versa.
How oracles would be assigned is up to discussion, but one suggestion would be: AE foundation runs at least one, trusted exchanges also run an oracle each, maybe some prominent community members and also an option to have some oracles run by those that lock a considerable amount of AE (this would also create some nice buy pressure on AE). The incentive for running an oracle is that some small fee for bridge conversions is shared among oracles. Of course, only those oracles that voted in majority consensus would share the reward.


Using AE as currency is fine enough :grin:

Maybe we should bridge USDT better.

I think this would be a valuable initiative for Aeternity. Stablecoins appeal to new crypto users that want to understand end experience the technology but don’t want to expose themselves to the risk of price volatility. It’s also a useful way for more experienced crypto users to partially mitigate risk for their portfolio. This would complement CryptoTask very nicely because it expands payment options to users depending on their appetite for risk.

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Why not use ae?

because it is volatile, and you have funds sitting in escrow for say weeks at a time