This feels inevitable across all chains, and has some interesting consequences
- increased competitive pressure to drive TVL/liquidity
- L1s can be valued more fairly based on revenue accrual from stables
- dead chains die faster (or reach a static end state?) as capital is incentivized to flow outwards to more thriving ecosystems
- it probably means something good for apps driving chain usage but not sure what, maybe good for non-commoditized applications (everything except DEXes and uni forks)?
we're partnering with Sui to launch a native stablecoin for the Sui ecosystem. USDsui will be built on the @stablecoin Open Issuance Platform.
Every ecosystem should control their money, which primarily means 2 things:
(1) Own the economics. Use stablecoin revenue to incentivize behaviors, lower costs and fund future investments, and
(2) Control the roadmap. With your own stablecoin, you control smart contract functionality ensuring this asset works uniquely well within your ecosystem.
Excited to see Sui taking full advantage of what stables enable - and to partner with them to maximize value for their community.
@0xIrisss L2s too
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