💥 Gavin Wood discusses @Polkadot Network the future of stablecoins:
1. Looking forward to the launch of Hydration's HOLLAR —— it is decentralized and uses DOT as collateral, which is very important.
2. However, Polkadot cannot rely solely on ecological projects; it must have a native stablecoin:
- Directly governed by Polkadot
- Over-collateralized DOT
- Similar to DAI, becoming a core component of the protocol
3. Before the native stablecoin is released, Gavin prefers to use HOLLAR over USDC/USDT.
However, in practical applications (such as validator rewards and integrations), compatibility with USDC/USDT may still be needed to meet user demands.
4. In addition to “fully collateralized” stablecoins, Gavin is also considering a type of stablecoin (stable-ish):
- Does not need to be always fully over-collateralized
- Accepts certain volatility
- Allows DOT to have an intermediate state between high volatility and full anchoring
- The goal is to “weaken volatility,” reduce costs while maintaining practicality
5. This is challenging, but worth it.
Polkadot can have a multi-tiered stablecoin system:
- Native stablecoin (secure anchoring)
- Type of stablecoin (reduce costs, enhance flexibility)
- Ecological stablecoin (expand liquidity and scenarios)
Gavin's core perspective: “Polkadot needs to view stablecoins as a protocol-level strategic resource, not only having a native stablecoin but also exploring innovative stable-ish models to ensure the long-term sustainability of DoP and the ecosystem.”