The Stablecoin Problem 👇 There's something fundamentally broken with the way stablecoins work in crypto today. The problem is yield - more specifically, yield you're not receiving. Stablecoin issuers such as Circle are making bank from crypto holders; it's unfair and exploitative. USDC in your wallet is representative of one dollar in the real world. Thus, USDC in your wallet is just a token that acts as an IOU. So what happens to your real dollar in real life? That dollar in the real world is taken and used to earn yield from off-chain U.S. Treasuries - this yield is then given to corporate shareholders.... Crypto users assume all risk: - Smart contract risk - Frozen assets - De-pegging events In return they receive the convenience of a tokenised dollar on the blockchain. Agora @withAUSD on @katana aims to fix this unfairness. Unlike typical stablecoins, $AUSD treasury yield doesn't go to corporate shareholders, it flows back to active DeFi users on @katana via boosted yield. The yield from off-chain treasuries directly boosts: ⚔️Lending markets (morpho) ⚔️Liquidity pools (sushi) This doesn't come with any caveats either, as $AUSD is minted natively on @katana, backed 1:1 by off-chain US treasuries and managed and custodied by @vaneck_us and @statestreet There's no synthetic risk, no rebasing BS and no bridging required. It's simple, secure and compliant. After learning about Agora and how it all works, I can't help but feel like this is the *only* way it should work. It just seems fair.