SotN#28: Uncollateralized Stablecoins w/ Dan Elitzer (ESD, BasisCash, backed by Faith & Yield!)

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State of the Nation #28

Algorithmic Stablecoins, with Dan Elitzer

Dan Elitzer recently co-founded Nascent (nascent.xyz), a venture capital company that is deep into the weeds in some of the most experimental projects in the Ethereum ecosystem.

In the 2nd half of 2020, some of the coolest experimental projects have been Algorithmic, Uncollateralized Stablecoins.

These are stablecoins without dollars in a bank, or without crypto in a vault. They are completely backed by financial incentives.... and faith in those incentives.

In this episode of State of the Nation, we begin by defining the 'Stablecoin Trilemma' (https://imgur.com/a/Uj0HBL3), and discuss some of the history of stablecoins.

Then we turn to the current design philosophy behind algorithmic stablecoins, how they work, what makes them stable, and who gets the upside?

We largely discuss Empty Set Dollar (ESD, https://www.emptyset.finance/), but also discuss Basis Cash, and Ampleforth.

Tune in, to hear about this exciting emerging corner of the DeFi ecosystem!

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