I’ve been studying the evolution of stablecoins for years.
And here’s the uncomfortable truth:
→ Most either rely on full reserves (like $USDC, capital-inefficient),
→ Or fragile algorithms (like $UST which collapse when fear spikes).
Now, The @TheFedzNFT introduces a 3rd path:
An incentive-backed stablecoin that discourages bank runs by design.
Let me explain:
▸ You can’t mint $FUSD directly. You must first provide liquidity.
▸ That liquidity is partially locked, preventing instant panic exits.
▸ You earn sbFUSD, then burn it 1:1 to mint $FUSD.
▸ Only NFT holders can govern and mint, others just use the asset.
On exit, there's a Sequential Access Queue, no rush-for-the-door chaos.
This mechanism is backed by game theory models of exit behavior.
It’s not just clever, it’s potentially a new primitive in DeFi:
A stablecoin that rewards supporters, penalizes panic, and encodes trust via incentives.
Curious to see how it performs under stress. But the thesis makes a lot of sense.
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