Algorithmic stabilization is the key to effective crypto-finance
Decent article, and totally agree with the analysis and conclusion. Future stablecoins need smarter contracts and better algorithms.
Also, good to have a different name - tracercoins (why not trackercoins?) - for coins that may track different metrics, not fiat currencies.
I have often wondered why so many people both look forward to fiat currencies crashing yet, at the same time, cheer for stablecoins that are backed by the same currencies they hope will crash! Where's the logic of that!?
Crypto has the potential to fulfill its ambitious long-time aspirations including creating financial tokens serving as better value-stores and payment mechanisms than fiat currencies.
To realize this potential the community needs to set aside fears incurred by the various frauds, scams and badly-architected systems that have plagued the crypto world, and aggressively deploy the best tools at hand — such as fractional reserve-based algorithmic stabilization — in the service of creative designs aimed at the greater good.
Such a store of value need not be any fiat currency, but some other metric - better still, in the plural, better metrics for those who seek different values.
Good to see others thinking along these lines.
Better algos - and more secure smart contracts.