I’m not sure where to post this since Gauge Proposals are supposed to be about pools that already exist, but I’d like to start a discussion about the demand for pool with only over-collateralized stablecoins that rely on smart contracts and not private entities.
I’ve been doing some research on both Tether and Circle and if possible would like to avoid exposure to both long term depending on the direction these projects take. I don’t like that they have been switching out backing that is cash-equivalent to corporate bonds. When things are opaque it is hard to tell what is going on and make a risk-assessment.
I feel like projects that rely on transparent smart contracts to ensure that debt is proven to be over-collateralized at all times give me more peace of mind during turbulent market conditions. Is it just me or is anyone else thinking about this?