Stablecoin Mechanisms and Use Cases

patio11 has been pretty opposed to crypto in general. I have numerous issues with the stablecoin concept. Neither UST or USDT interested me.

Maker has a pretty well tested tech in DAI, and Reflexer.finance updated this with RAI. My biggest misgiving about stables is they are able to allow whales and other large players to acquire huge amounts of cryptos during down cycles with very little explanation of how the funds were created. Tether appears to print new Tether's on a whim, and how or what backs them is completely opaque.

A crypto purist should have very little use for stables other than as an explicitly entered short against the shakier stables.

Tether and USDC both have blocklist capability. USDC has been critiqued on this as it adds additional gas requirements to every transaction.

I expect further regulatory clamp down on big names such as Tether, and certainly USDC.

The decentralized ones such as DAI and RAI may fare better, but if the Treasury really wanted to lean on exchanges they could.