This whole thread aged very well, very quickly. And no, I don’t think building your own L1 is the correct way to raise switching costs for stables. Chains don’t make money either, for the most part!
PaperImperium
PaperImperium9.8. klo 21.06
The race is on for stable issuers to transition from being a commoditized product - easily replaced by a more reputable JPMcoin or HSBCcoin - with low switching costs into a sticky product that has some kind of moat other than offering 10bps more yield than the next guy.
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