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Building A Better Ponzi with Ameen Soleimani | Layer Zero

Bankless

NOTE

The Price of Rye Is Dollar Denominated

decentralized finance is still mostly dollars, right? We want to look at it and we want to be like, well, how do we get away from dollars? And there's a couple of ways, right? You can have a dollar denominated instrument, but that doesn't come with the like the USDC block lists. It was backed by ETH at first. But then they back it with USDC and then you're like, okay, now what? Uh, and so that's why with rye, it's backed only with ETH.

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