Hacker News Reader

MakerDAO just launched its stablecoin, DAI. It maintains stability by a complex system of smart contracts and CDPs. The problem is much more difficult than simply increasing/decreasing supply.

https://makerdao.com/

Looks interesting! The trusted oracle part seems concerning as a single point of failure but I suppose it’s necessary.

There's also BaseCoin, another attempt at a "stable coin" with prominent investors:

https://www.coindesk.com/basecoin-revealed-a16z-metastable-s...

Yes, there is Tether - which is pegged to USD - and somewhat controversial for reasons I don't fully understand.

The controversy is that it is unclear whether every Tether is backed by real USD. See: Tether's TOS, Bitfinex's banking issues, etc.

I found this article on the matter very interesting: https://medium.com/@untetheredbtc/how-the-tether-usdt-distri...

Yes. https://tether.to/.