Cosmos Boards the DeFi Train with Native USDC Support
A rather ignorant article, whose author seems to know next to nothing about the Cosmos ecosystem.
Both Ethereum and Solana have enjoyed vibrant DeFi environments, at least partly due to the ease of access to stablecoin utility within their networks. This has not yet been the case for the appchain ecosystem that calls itself the “internet of blockchains” — Cosmos.
That's just not true. The issue at the moment is that native stablecoins do not have widespread use outside the Cosmos network, while popular stablecoins are used via bridges. The implosion of TerraUSD was a major blow, especially to importing risks through bridged assets.
“I definitely think that this is a huge development,” Blockworks research analyst Ryan West agrees. “The reason that their DeFi hasn’t taken off, despite them being around for a while, is because there wasn’t that native stablecoin.”
Is everyone that blind to TUSD? Or just a bad memory best erased!?
Looks like Circle's USDC will become the first stablecoin that is both widely accepted on other networks and natively minted.
Arbitrum to phase out bridged USDC with latest revamp
https://ambcrypto.com/arbitrum-to-phase-out-bridged-usdc-with-latest-revamp/
Another network finally comes to term with the fact that bridges are too risky and prone to hacks and attacks.
altho I don't think TUSD was a native coin - was yet another bridged asset.
and that was truly traumatic!
USDT exists on a number of networks now, so that's another possibility, esp as it seems to have regained its prime position, with BUSD getting crippled by regulators.