Hello! If I were the CEO of ZKfair, I would first focus on stablecoins and their creation. Stablecoins are cryptocurrencies that are pegged to stable assets, such as fiat currencies (the US dollar) or commodities (gold). They were created to provide price stability and reduce the volatility that is often present in the cryptocurrency market. Where things are relatively stable and less volatile, there will be large investors, experienced users, and significant capital volumes.
The benefits of stablecoins include:
Price stability: Since stablecoins are tied to stable assets, their price usually remains relatively constant. This allows users to use them for storing value and conducting transactions without the fear of significant price fluctuations.
High liquidity: Stablecoins typically have high liquidity, meaning they can be easily exchanged for other cryptocurrencies or fiat currencies. This makes them convenient for use in trading and payments. As a result, market capitalization will only continue to grow, people will trust the product more, and large investors will emerge.
Accessibility: Stablecoins can be used in various situations, such as sending money abroad or participating in decentralized finance (DeFi) protocols. They can also be used as a means to protect against inflation or currency risks.
Stablecoins are very convenient and practical. You can optimize their resistance to censorship, price stability, or reserve backing, but not all three aspects at once. Major stablecoins like USDC and USDT are stable and can be verified. USDT Tether is stable and resistant to censorship, but at any given time, you take a leap of faith in the availability of its underlying reserves.
As for algorithmic stablecoins like UST Terra, they work well until the peg is disconnected… and then they perform poorly. (Everyone remembers this crash, so it is important to take it into account to avoid similar mistakes).
Currently, stablecoins remain the cornerstone of the cryptocurrency world and serve as a bridge to the traditional financial world.
This discussion is open to further additions and is subject to debate! ZKfair to the moon!
