🎩CHAMA🎩
@manmos
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1091 Followers
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Been thinking about $GGUSD, the stablecoin launching in the FSL ecosystem.
It’s likely only held by FSL users, and not usable across broader DeFi or on exchanges. At the end of the day, it feels more like a closed-loop in-game currency than a truly decentralized stablecoin. 🥺
Sure, it offers yield just for holding—but with minimal liquidity, what’s the point if you can’t exit when you want? From the project’s perspective, it’s a clever way to lock users in. But for users, it trades freedom for a sense of stability.
It might look like web3 on the surface, but the structure leans heavily toward web2. The yield source and fund management are opaque, and the risks of passively holding it aren’t obvious to most users.
Conclusion: For now, you’re probably better off sticking with USDC or USDT. There are other stablecoin strategies out there offering better yields, with far more transparency and flexibility. 3 replies
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