Summary
Hello Community,
I am wrapping my head around for 2 weeks now why UST failed and how an next generation stablecoin should look like.
Further i think, stables is our predominant field, we as Terra Community that is can do better, than just adopting USDC or DAI.
I have an pretty simple idea and want your opinion about it:
Nebula Clusters are Tokens in Nebula Protocoll that sit on top of other tokens. The amount of tokens that beeing bought from the underlying token adapts automatically depending on the price and market cap. The effect is, that you are not or at a lot least less exposed to price fluctuations.
Nebula Protocol
The new stablecoin would be then a Nebula Cluster, that sits on top of existing stables. The cluster adapts according to market cap or price fluctuations. The underlying stables can be choosen by goverance votes.
I can be USDT, BUSD, DAI, USDD etc. or even algorithm stables like RAI
Rai description
We dont need to worry about pegging anymore or how the redemption should be done.
As long there is one “stable” stablecoin out there from the underlying assets, we should be pretty safe. Lets say, Tether looses the peg, the protocol would shift automatically the underlying assets to the other pegged stablecoins.
What do you think?