Currently, most “stable” coin pairs are based on governmental currencies such as USDC or USDT. However, there seems to be a need for an alternative to these “stable” coins as we have seen devaluation of these governmental currencies over time and recent de-pegging of these “stable” coins with their underlying governmental currency.
Alternative stable coin pairs that are base on coins backed by commodities might be a welcome choice to users. As and example, LODE has two coins: AGX backed by silver and AUX backed by gold. There are other examples commodity backed coins.
How does the community feel about supporting the listing of alternative “stable” coin pairs such as:
SYS / AGX
SYS / AUX
AUX / AGX
or others?
We’re definitely open to it, would be interesting to reach out to Lode. Me and @david will look into it next week, thanks for the suggestion @ellipsoid
I like having AGX and AUX coins available on Pegasys. Wanted to get some of them in the past to also invest into metals. Lack of exchanges was a big issue for me.
Problem is that both coins are only tradeable on Avalanche so far which means 2 bridges to/from Syscoin which gets expensive.
Great feedback @Lorgar! I believe the points you and other community members bring are very valid, and I myself would be interested in hedging metals/commodities and other real-world assets on Pegasys. This isn’t something that we can ultimately decide on, but we’ll definitely push the people that can make that happen
If you’re reading this and agree with Lode assets coming to Pegasys/Syscoin Ecosystem, please show your support! This increases the chances of it becoming a reality.
