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br-m<alejandro.lr:matrix.org> Hi, has the dev team explored creating a stablecoin with Monero’s privacy features?
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moneromoooIt'd be very easy in fact.
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moneromoooThe change is rather trivial:
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moneromoooremove the bulletproofs check.
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moneromoooNow you don't get to choose the level at which it stabilizes, which you might consider a drawback.
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BlueyHealerWhat do you mean? Why would that be stable?
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moneromoooBecause it allows one to create monero at will.
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moneromoooBut it keeps the privacy features unharmed.
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BlueyHealerI don't get the logic - why would that be stable? Wouldn't that, by logic, be decreasing?
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moneromoooOnly up (well, down) to a point.
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moneromoooAssuming it starts higher than the stable value, of course.
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br-m<alejandro.lr:matrix.org> But that would allow for infinite inflation and the price would go to zero
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moneromoooVery stably.
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moneromoooSince you cannot go below 0 (within reasonable assumptions), you only have to care about stopping movement in a single direction, which makes it easier to stabilize.
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moneromoooTypical stability works by pushing from both sides with equal force, and hoping the two forces counteract each other. Buys, and sells for a stable coin.
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moneromoooHere, the innovation of the ZeroWall allows you to concentrate on a single downwards force, which you can dial to the max like a gorilla, without worrying about dosing the counteracting force.
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moneromoooThe result is improved long term stability.
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br-m<alejandro.lr:matrix.org> But if it doesn’t preserve any value, it would be useless despite being stable. There has to be an upwards force we can tweak too, to keep the price constant
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br-m<alejandro.lr:matrix.org> Would be great to peg it to the CHF
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BlueyHealerwhat
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BlueyHealerAlso, I wonder what mechanism would there be for this without one overseeing organization?