XMR Stablecoin Ecosytem?

linked you that thread already:
https://monero.forum/thread/monerousd-stablecoin-fcmp-privacy

ngl stablecoins never made sense to me
and never understood why people keep asking for a stablecoin monero or a wrapped monero or somethin

i mean i guess heard a youtuber being like some DNMs using tether for some reason?
but isnt the reason they're not using using monero just because of the marketcap compared to tether/bitcoin?
like idk, how does it "peg to the dollar" in this case?
then what happens the day the americas be liek

and it's all like the venezuelan bolivar thing by loosing all of that value:

then what? so very stable...
like, isnt monero stable enough already?
i dont get it lol

FCMP++ cool tech tho
the more gimmicky "defi" thing and pegging to a currency that is based on a failed model, then that i dont get lol

and idk, bitcoin was made in response to the 2008 financial crisis thing, to not having to rely on the banking system
yet, nowadays the cryptomarket inherited all of the flaws from that legacy financial system
(centralized exchanges reliance for the whole market/bitcoin as a whole type thing)
and i get it, if u need monero to buy on your thing then i guess atomic swaps are chill for that
but having the tech literally pegged to a known and documented flawed system... just seems odd

and my apologies being all like "stable is not real, this shit fake af"
and pretty much hating on everything "defi" or whatever lol
but also my last experience with someone into "defi" that also made monero forks...
when i mentioned the videogames thingies
that retard was literally all like "ok yea sounds good, let's make nfts tied to the videogame items" like wtf??
how much of a psyop was that?? LOL
while also working on defi shits for monero that would actually increase the attack surfaces...

just sayin, you add web3 shits to the monero ecosystem...
next thing you know there is something wrong with it and impacts monero in some ways
https://www.web3isgoinggreat.com
and that attack vector is already being explored by adversaries

people need to change their mind, but they don't

i don't know what we should do. i've talked to people in recent days and suprisingly they really liked everything about monero, just not the 'fluctuating' price. it seems to be a big thing for people

monerousd.org
freedomdollar.com
are the only projects i can think of

@esna7
gold price isnt fluctuating that much because of the marketcap already being that high
digital gold (monero (fungibility), not btc) could aim to reach a similar marketcap eventually
price fluctuation will be less an issue if "numbers go up"
but not in the sense of "a few whales hoarding" but "many little whales using it in P2P circular economy"
then the whole "price fluctuation" thing would be totally irrelevant
some day maybe...
a stablecoin is just a bandaid and distraction on a solution that should be kept being worked on
(p2p circular economy adoption)

@Saucey Isn't that the same like using fiat? Someone could print the stable coin as many as they want with such authority, then it will be 2008 all over again.

@sepia No, it's not the same as fiat, a stable is just that a stable index which is usually pegged to a fiat. The underlying asset you're indexing on matters to keep the peg.

And correct as seen by Terra Luna, (45B USD collapse), https://en.wikipedia.org/wiki/Terra_(blockchain) the entity with mint/burn mechanisms is vulnerable.

In my view, there should be a change at the protocol level (XMR) to support a pegged or wrapped token. Anyone know whether the devs of XMR have been discussing it?

@Saucey
idk about the "Finality Layer" thing that was proposed but pretty sure it's been abandoned by now? idk
like, heard it would have been a mix of PoW/PoS i guess? idk

there was a meeting today in MRL:
https://libera.monerologs.net/monero-research-lab/20260603

so maybe you could ask the people over there about it, by accessing the channel through either irc or matrix
you sound sus af tho, being all like wrapped token or somethin

This is why we want a trustless currency. Monero is up 2000% against the iranian Rial. This was a currency 90 Million people used. If they held Monero instead, they wouldn't have lost their life savings.

@Saucey Hey thanks for the love man. Glad to have you here. I agree that a private stablecoin is the holy grail, but it is frankly not feasible based on what we know about stablecoins and trust. Basically, to have an audience trust a stablecoin, it needs reputability. And something like Haven did not have that. Same thing with Zano. These algorithimic stablecoins are skating on thin ice and if there is a price dump then they will lose everything.
I am of the opinion that stablecoins will only be popular with heavily regulated projects based on the legislation I have seen pass through the US and based on the usage statistics I have studied.
The people who don't care about stablecoins and who wan't privacy are already using XMR.