Many digital currencies become popular due to people investing in the currency in the hope that the value of the currency will rise over time.
That’s only partly the case. Stable coins exist and there are currently four with a market cap higher then a billion dollars. Most of the stable coins are currently pegged to the US dollar but there’s no reason why you couldn’t have a stable coin that’s pegged to whatever basked of goods you care about.
If you want to make bets in a prediction market denoting them in a currency that doesn’t inflate might be worthwhile.
I would be surprised if we don’t have stable coins pecked to a goods basket in a few years when the DeFi field matures.
That’s only partly the case. Stable coins exist and there are currently four with a market cap higher then a billion dollars. Most of the stable coins are currently pegged to the US dollar but there’s no reason why you couldn’t have a stable coin that’s pegged to whatever basked of goods you care about.
If you want to make bets in a prediction market denoting them in a currency that doesn’t inflate might be worthwhile.
I would be surprised if we don’t have stable coins pecked to a goods basket in a few years when the DeFi field matures.
I very much agree with this