The Future of Custom Stablecoins on NEAR

When this document was written by our chief editor the OIN stablecoin was in the process of raising capital to liquidity pools that would support it’s peg. At the time we decided that the most secure, decentralized stablecoin should be the priority of Octopus Network listings, but these requirements haven’t been realized yet. The future of USDC issuance on NEAR is a separate topic (centralized stablecoins) but Octopus Network is not in a rush to implement a centralized ‘stable’ asset in substitute of a decentralized one.

USN was created a few months after this article was released. The OIN peg was insufficiently stable and in roughly the same period of time MakerDAO (MKR) took in millions of dollars in centralized assets to support DAI issuance. It was a difficult year to be able to deploy stablecoins confidently in a multichain, multi-asset environment. We are still deciding how to address the status quo, and all available options have significant pros and cons. We’d love to hear from you what stablecoins should be found at Octopus Network!

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