RE: LeoThread 2025-08-14 09:32
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Leo bringing out its own stablecoin is an important step. This is something that is overlooked by many. Metamask leaked that it is bringing out mmUSD.
Platforms that provide financial services will all have their own stablecoin. There will be a few that dominate, such as USDT or bank coins, but the others will have their niche.
With Leo, the entire ecosystem can be powered by the payment system using LUSD (or whatever). They key is that it can be fund backed, using Leo based assets as the core.
This provides even greater utility these tokens.
Suggestion to @khaleelkazi for the stablecoin backing: $SURGE. Debt instruments are ideal collateral due to the yield component.
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It took me two re-reads to understand that "Leo bringing out its own stablecoin" is not #surge reference. There will be a separate token in future.
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LUSD seems ok, but if it depegged, it may bring down the price of $LEO as it will be backed by LEO, and it may bring a clash with HBD also. Many things to consider before bringing a stablecoin. But I like the idea, and I am expecting that in the future I may see LUSD.
Why is it a clash with HBD? Why not USDC or USDT?
As for the depeg, that is what the backing is for and the mechanisms that are in place with SURGE.
Oh. I almost forgot while writing it. In that case I want it to be more competitive with other popular stablecoins.
you have to be careful with any stable coins with the new US Law about audits and reserves.