c/endlesswar · by humanspiral@lemmy.ca · 121d

Tether, a stablecoin "foundation", that was supposed to be more resistant to US control, obeyed US orders to freeze Iranian-linked USDT.

https://www.youtube.com/watch?v=lS0Skv0iKYg

DAI and LUSD are stablecoins without blacklist address possibility.

17 points · 3 comments · view on lemmy.world

3 Comments

chicken@lemmy.dbzer0.com · 2 pts · 121d (1 reply)

There was never really much reason to trust Tether with this. I thought DAI had been planning to add a freeze function when they rebranded but I guess they didn't? Still have to worry about all the USDC collateral they use but at least it would be an all or nothing sort of thing for that to be frozen.

humanspiral@lemmy.ca · 1 pts · 121d

DAI added a 2nd coin, USDS, that is "regulatory compliant" = can be frozen.

worry about all the USDC collateral they use but at least it would be an all or nothing sort of thing for that to be frozen.

I think (not positive at all) holding another smart contract that pools fungible usdt/usdc cannot get blacklisted, including selling/transfering that contract for something other than usdt/usdc.

humanspiral@lemmy.ca · 1 pts · 121d

bitcoin layer 2 has a similar systems to LUSD/DAI