USDC today buys you ~20% less than it did in 2020

~98%+ of stablecoins are backed by US dollars

Trust in the dollar isn't collapsing but it's slowly diminishing. Onchain stability is clearly in demand.

Feels like doomerism and inflation tail risk is low probability, but the consequences are high impact.

BTC, ETH and others serve as long term hedges, not short term purchasing power assets.

Flatcoins are still very early and have their own problems. But I'd expect to hear a lot more about them over the next 12-24 months.

any notable flatcoin projects we should check out?

Didn’t know about flat coins, thanks for sharing

Still early not many.

Ampleforth, flatmoney, Nuon, Silk, reflexer.

Honestly have to go deeper myself, just feels like stablecoin hype is kinda euphoric and was trying to think of second order effects (good and bad)