As reported by Blockworks, the role of stablecoins in enabling financial activity and reducing friction in the crypto economy is gaining attention. Santiago Roel Santos and Rob Hadick discussed how stablecoins, such as USDC, are critical for prediction markets like Polymarket, allowing bets to settle without exposure to volatile assets. Without stablecoins, it is much harder to conduct long-term financial activity onchain due to foreign exchange risk. The discussion highlights the potential for stablecoins to unlock new consumer behaviors and support various crypto verticals, including NFTs and gaming. However, the function of app-specific tokens is being re-evaluated, as stablecoins may render traditional utility tokens obsolete.
Stablecoins and the Future of Token Flywheels in Crypto
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