Moving crypto away from the US dollar will require an asset that is not skeumorphic to existing currencies. Tokenized energy is the truest form of money. The bitcoin battery thesis doesn't work because you cannot redeem BTC for the energy that created it
vitalik.eth
@VitalikButerin
02-09
> inb4 "muh USDC yield", that's not DeFi
Would algorithmic stablecoins fall under this?
IMO no (ie. algorithmic stablecoins are genuine defi)
Easy mode answer: if we had a good ETH-backed algorithmic stablecoin, then *even if* 99% of the liquidity is backed by CDP holders who
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