Hello, given the still low adoption of the protocol and, taking into account some comments I have seen on Twitter and Discord, what is the team’s view on the eventual need to launch agUSD in order to catapult adoption.
Everyone recognizes the technical quality of the protocol and the team, however I can’t stop thinking about the comments that refer to “great protocol but what a shame it is not possible to borrow USD stablecoin”.
It’s obvious that launching a second sablecoin is a herculean effort, given the need to build a second liquidity base that supports the new stablecoin, but what could it mean for protocol adoption?
What are the team’s comments on this matter?
To be honest I have not heard that that much, but it might just be the echo chamber I’m in. Where have you heard this?
As I personally see it, decentralized USD stablecoins is a blocked market with not much opportunity remaining, and a much bigger hassle regulatory wise.
However we are about to publish a proposal regarding a gold pegged stablecoin which could help in terms of image and adoption of Angle in general ! What is your opinion about that?
Also happy to hear if you see any other external opinions about a decentralized gold stablecoin!
Hello @tuta thanks for the reply.
What caught my attention in the comment I saw on Twitter is that, in fact, there is no protocol that I know of (with the exception of the MIM Protocol) that allows you to obtain a loan in USD through a productive yield token (now being launched on Angle Protocol). This product allows the launch of a stable USD with a differentiating element in a market that, I agree, is saturated with offers of USD stablecoins.
However, I want to be clear, the main reason for investing in the Angle Protocol was precisely the fact that I was launching an on-chain EUR stablecoin, which is a truly differentiating offer, so I understand that establishing liquidity around the agEUR is , and it should be, the main driver of the protocol, since we are still a long way from being able to invest in DeFi in EUR with the same opportunities that exist in investing in USD.
Regarding the launch of a decentralized gold stablecoin, it seems to me an interesting product and a good addition to the protocol (very curious about its implementation and liquidity promotion).