Research: Top 4 stablecoins gaining market dominance despite stagnant growth since May
Tether's (USDT) market share stood at 90% in 2020 but has since fallen to roughly 50% as other stablecoins gained ground in the industry.
USDT = Tether = centralised, collateralised (allegedly)
USDC = Circle/CENTRE/Coinbase = centralised, collateralised (monthly attestation)
BUSD = Binance/Paxos = centralised, collateralised (approved and regulated by the New York State Department of Financial Services)
DAI = MakerDAO = decentralised, multi-collateralised (smart contracts)
Spot the odd one out!
Unsurprisingly, the slump of UST had a massive impact on other stablecoins, including DAI. Although DAI managed to maintain its peg to the USD, there was a steep drop in its market capitalization from $8 billion to $6.33 billion. However, once the token found its floor, it began to experience a surge in demand for DAI, which later caused a DAI token to sell for a premium (slightly above $1). [CMC]
I think we need a well-planned algo-coin too.
A stablecoin's rise in market share has ignited the ‘Second Great Stablecoin War’
Since Binance announced it would auto-convert USDC, USDP and TUSD into BUSD on Sept. 6, BUSD’s share of the total stablecoin market has risen from 10.01% to 15.48%.
The first "Stablecoin War" was fought between five stablecoins in 2018, leading to USDT and USDC as the two leaders - with TUSD, GUSD and USDP limping out.
These remind me of Travellers Cheques = https://en.wikipedia.org/wiki/Traveller%27s_cheque.
They still exist, although largely replaced by digital cash.
Legally, the parties to traveller's cheque transactions are as follows. The organization that produces a traveller's cheque is the obligor or issuer. The bank or other place that sells it is the agent of the issuer. The natural person who buys the cheque is the purchaser. The entity to whom the purchaser hands the cheque in payment for goods or services is the payee or merchant. For purposes of clearance, the obligor is both maker and drawee.
also
Traveller's cheques were first issued on 1 January 1772 by the London Credit Exchange Company for use in 90 European cities, and in 1874, Thomas Cook was issuing "circular notes" that operated in the manner of traveller's cheques.
hehe travellers cheques wasn´t that the business from Thomas Cook also, we had overtaken one time the main offices in Germany from them where they print and store them. Was a good location, very safe for our business man that was 12 years ago now time is flying ;)
haha, yes Thomas Cook. But as a construct, they are like numbered bank notes. But they are not private money, like scrip, as all are issued by banks... erm... that are private corps. lol. Interesting to see different forms of money that float around.