Folks Finance, built on Algorand rails but migrated to a crosschain platform via Chainlink, offers USDC lending with a 10% APY. I lent Algorand in the past on the platform with no problems. I also use USDC in my liquidity pools on Tinyman (also on Algorand) because they provide a more stable pair with less price fluctuation and thus less chance of impermanent loss.
Has anyone written about the effects of a collapsing USD on stablecoins? Granted, the USD will likely be the last global fiat currency to collapse, but I can't say I have seen/read how that affects (plays out for) people holding Tether, for example. Although, I do understand Tether also uses other assets besides US Treasuries to back their product, so... Just something that bubbled up in my mind.
Folks Finance, built on Algorand rails but migrated to a crosschain platform via Chainlink, offers USDC lending with a 10% APY. I lent Algorand in the past on the platform with no problems. I also use USDC in my liquidity pools on Tinyman (also on Algorand) because they provide a more stable pair with less price fluctuation and thus less chance of impermanent loss.
Has anyone written about the effects of a collapsing USD on stablecoins? Granted, the USD will likely be the last global fiat currency to collapse, but I can't say I have seen/read how that affects (plays out for) people holding Tether, for example. Although, I do understand Tether also uses other assets besides US Treasuries to back their product, so... Just something that bubbled up in my mind.