What Is Going on With Peer to Peer Debt?

The stable coins are exposed to this higher risk debt, but do not have the benefit of the additional dollars generated from it to protect their principle. Thei cushion that they should be getting from the increase yield er generating does not ever go up. So i think that the the head set that people think about crypto is very much a bet on the upside. But if underneath all of that is t, remainder upside, there is an implied promise for solvency that can be redeemed in dollar terms. It's a debt-to-asset exchange where everything rests on these sort of tethers.