💌Thank you for watching Cardano Community, I really appreciate it! 😇If you'd like to support the channel, please consider delegating with the DAPP stake pool!
USDC and T can both freeze transactions. But they have interoperability. Since Cardano already has stable coins like Djed and IUSD this is less of a problem. When you need to hold the value swap into Djed or IUSD because of their reliability. When you need to trade into another ecosystem, swap back into usdc. The risks do not out way the rewards. It makes perfect sense to adopt usdc. But also they are also overhyped. Algorand has had usdc for a while now and it didn't exactly supercharge their ecosystem.
We are not Algo, Algo has more stablecoin at 60m well cardano has 18m which is laughable ... Usdc or usdt would bring a more money into Cardano and it would boots its defi
I think using USDC or USDT will be beneficial for people as an on and off ramp. Although the community advocates for owning your keys, people still heavily rely on platforms like Coinbase and Binance. It might be challenging for our current stablecoin offerings, such as DJED, to gain support from major centralized exchanges. If they can overcome the technical hurdles associated with USDC, I believe that would expedite resolving liquidity issues more effectively than a grassroots effort.
Thank You very much for this video and ur answred to my previous msg . I do not not know if u did already prepare this video since a while cus I did ask u some day ago about why don t we have yet this Famous USDC from circle in this great Cardano blockchain and today I already found this amazing video very instructive and very good explained .👍👍👍👍👍 Take care and hopefully u will keep on posting 🤞
Gotta have it! Too many other small things working against ada at this point to have such trivial issues with something as important as liquidity. Just get it done already.
Great overview over the pros and cons. really well made video! after taking it all into consideration, we still need USDC. can it exist as its own partnerchain like how midnight will be?
Farid, its obvious U r bringing it. Over 500 hits in the 1st hr. U r a growing asset to this space expanding the knowledge base. Ty for your time & energy. Have a great weekend. Peace! ✌️🫶
Thank you for taking notice Jim! It’s been a long road but it’s finally paying off. I’m very appreciative of supporters like yourself. Have a good weekend. 🙏
Great video mate, spot on. We couldn’t progress our project due to stable coin limitations. We’re excited to push the needle on this, and we’re confident with Mehan and Butane coming to market, we’re going to have some great options for the ADA community soon
I have not been in favor of USDC or USDT natively onChain in Cardano in the past, but there is a deep need for companies to have a dollar based stablecoin that is easily transfered. Being able to pay employees using blockchain requires this middle step before full transition to non-fiat blockchain coins. More and more, companies (even startups) are international. There has to be a way to pay these employees in a way that is easily convertible to native fiat. USD is THE most important fiat currency in the world. Almost everyone accepts payment in USD--especially banks. As more USD gets on the blockchain, more people will start to accept non-fiat blockchain coins. It's hard to go to Blockchain based currencies cold turkey. You need this middle step of USD currency being carried on the blockchain.
Cardano needs a fiat backed stable coin to grow and MEHEN would be a great option over USDC. Either way a fiat backed stable coin is needed and needed now... Look at Cardano's TVL without a fiat backed stable coin it is in the top ten, now imagine Cardano's TVL with a fiat backed stable coin. It will sky rocket...🚀
I’m not against having circle just like I’m not opposed onboarding any well reputable business trying to build on Cardano. Cardano will remain decentralized no matter what.
A lot of people seem to think Cardano needs USDC, but I hadn't considered its implementation is based on Ethereum's accounts-based model. Do we really want to adapt the platform to a bad standard for the sake of liquidity?
Ethereum’s wallet hacks happen because this very model that USDC is requiring. The native model is much more secure, rather having a smart contract handling your assets.
Hey Farid Happy New Year. Enjoyed the report. You stated in the video you Believe tron is untrustworthy. What facts do you have to back up your declaration? Not attaching. I have owed tron since 2018. The west hates tron But it is doing every good work Ex ample Turkeys use of trx. The inbanked Please let me know.Seem like you know something i do not. Sincerely Frederick
Thank you Farid for excellent&informative video, by which my mind was mostly going around statement, be true to yourself...Usdc/t wouldnt guarantee the needed liquidity, so I would vote no..
Thank you Jegres! As noted by another view, Algo got USDC and it hasnt done much, so while alot of folks have hinted it would fix problems, theres no gurantee as you mentioned.
Also, why isn't Cardano burning coins like the other chains? Every year lots of ada gets released into circulation and without coin burning, does this mean ada is inflationary (thus the price gets suppressed)? This is a legit question I have, hope someone can explain this to me 😅
Really comes into one's choice. At least with ADA stables you have control of your transactions. USDC is ok but the fact that they can block transactions is scary.
That's not how USDC works. You can't use it without swapping it through Circle mint... so someone has to want to be in Cardano to use the native token.
there is nothing in store for $usdc if they keep on running the stablecoin without any proper audits and without any proof that their reserves exist. it even just depegged on some exchanges, how is it going to last long?
I really hope we dont, we dont need them, they need us Usdc and usdt limits our freedom because of the freezing capabilities and monitoring. If we are able to get a non freezing and monitoring version then id support it, but for now it would be a very poor move for the ecosystem
That is speaking in terms of freedom and I like it a lot. but I have a question: should #Cardano's #interoperability, self-custody and privacy be able to wrap these tokens and give them these properties?
USDC will settle for nothing less than their 100% right to take any USDC in anyone's hot wallet at any time and at their sole discretion. Regardless of whether or not it is to prevent a criminal activity. Currently Cardano is not set up for any entity to remove your coins without your approval, full stop.
Do both. Adopt usdc and build our own. These things take time. When Mehen comes out it'll take a while to build the same level of reach that usdc already has. In the mean time why not use usdc in concert with other stable coins@@ZackLee
@@ZackLeeso what does it mean interoperability? It is important to have other works for the ecosystem that demonstrate interoperability and the capacity for integration, only nothing survives on its own, we must cooperate with other bodies.
Hey Brad, I just stated that in my opinion it’s not fully trust worthy, I don’t hate them. Those are completely different. I said that because there appears to be a ton of bot activity and potential wash trading going on to boost its numbers. Could I be wrong yes, but that’s what I didn’t focus on then. I hope that helps.
Cardano is losing too many projects, and thats because we do not have a multichain stablecoin giving us liquidity both in and out the ecosystem. Cardano is FARRRR to insular and inward looking. I witnessed Vodafone come in to the ecosystem with promises, and in a week they disappeared and moved to Solana. Cardano has a poor track record with real world business. Only so long an insular community will last, we can't carry on just buying each others goods, we need goods to come into and leave Cardano.
@@DappCentral I feel quite strongly about this: there’s no way that a centralized, shady stablecoin which happens to have garnered some mainstream attention and investment demanding an eleven figure bribe to be integrated into Cardano is superior to a properly built native solution which offers the same functionality without USDC’s potentially likely tradeoffs or failure points.
@@brodyalden well said. It’s literally the popular kid on the block. I think the people that want usdc thing it’s going to automatically bring attention, when it reality it guarantees nothing.
@@DappCentral attention isn’t worth that kind of price tag. If USDC were better built it might be worth a thought; but I’ve been hearing concerns since 2021 about how non-transparent it is.
💌Thank you for watching Cardano Community, I really appreciate it!
😇If you'd like to support the channel, please consider delegating with the DAPP stake pool!
USDC and T can both freeze transactions. But they have interoperability.
Since Cardano already has stable coins like Djed and IUSD this is less of a problem. When you need to hold the value swap into Djed or IUSD because of their reliability. When you need to trade into another ecosystem, swap back into usdc. The risks do not out way the rewards. It makes perfect sense to adopt usdc.
But also they are also overhyped. Algorand has had usdc for a while now and it didn't exactly supercharge their ecosystem.
Good point on algo - I wonder what they next issue will be if the same happens on Cardano. Its always something...Thanks for watching.
Exactly! Great final point. USDC will be a value add, but the real issue with Cardano is the counter messaging in media.
Ever actually tried to swap any significant amount into djed? Get wrecked with fees. It’s a joke
We are not Algo, Algo has more stablecoin at 60m well cardano has 18m which is laughable ...
Usdc or usdt would bring a more money into Cardano and it would boots its defi
I think using USDC or USDT will be beneficial for people as an on and off ramp. Although the community advocates for owning your keys, people still heavily rely on platforms like Coinbase and Binance. It might be challenging for our current stablecoin offerings, such as DJED, to gain support from major centralized exchanges. If they can overcome the technical hurdles associated with USDC, I believe that would expedite resolving liquidity issues more effectively than a grassroots effort.
Thank You very much for this video and ur answred to my previous msg . I do not not know if u did already prepare this video since a while cus I did ask u some day ago about why don t we have yet this Famous USDC from circle in this great Cardano blockchain and today I already found this amazing video very instructive and very good explained .👍👍👍👍👍 Take care and hopefully u will keep on posting 🤞
Hi Gerald, this was a direct response to your prior comment haha! Happy that you found it helpful! Have a great day!
Let’s face it broski cardano needs USDC!
Thanks for the high-quality content as always! Keep doing your thing!👍
Thanks, will do!
Every stablecoin (usd backed), must be centralised..but we need it
I agree, im very hopeful for USDM!
Gotta have it! Too many other small things working against ada at this point to have such trivial issues with something as important as liquidity. Just get it done already.
Crypto enthusiast here, and Staxum just joined the ranks of projects that make my heart race. And you can still get in early as a f...
Staxum might be joining the ranks of the major exchanges soon - fingers crossed, very glad I aped into the presale, hurry up guys!!!!!
usdt and usdc we definitely need
Thanks for the take on this!
Farid many thanks for the stablecoin update, Happy New Year to you
Happy new year Damien! Thank you!
Great overview over the pros and cons. really well made video! after taking it all into consideration, we still need USDC. can it exist as its own partnerchain like how midnight will be?
Great content!
Thank you!
Farid, its obvious U r bringing it. Over 500 hits in the 1st hr. U r a growing asset to this space expanding the knowledge base. Ty for your time & energy. Have a great weekend. Peace! ✌️🫶
Thank you for taking notice Jim! It’s been a long road but it’s finally paying off. I’m very appreciative of supporters like yourself. Have a good weekend. 🙏
Interesting. Good video bro!
Appreciate it StayWinning!
Great video mate, spot on. We couldn’t progress our project due to stable coin limitations. We’re excited to push the needle on this, and we’re confident with Mehan and Butane coming to market, we’re going to have some great options for the ADA community soon
Can you tell us about opt plz
Good info there my man, hope that clears up any questions people have about stable coins.
Thank you Peter! I appreciate you!
@@DappCentral no probs pal keep up the good info.
@@peterhoward8727 thank you! Will do. 🙏
Great content as always Farid.
I have not been in favor of USDC or USDT natively onChain in Cardano in the past, but there is a deep need for companies to have a dollar based stablecoin that is easily transfered. Being able to pay employees using blockchain requires this middle step before full transition to non-fiat blockchain coins. More and more, companies (even startups) are international. There has to be a way to pay these employees in a way that is easily convertible to native fiat. USD is THE most important fiat currency in the world. Almost everyone accepts payment in USD--especially banks. As more USD gets on the blockchain, more people will start to accept non-fiat blockchain coins. It's hard to go to Blockchain based currencies cold turkey. You need this middle step of USD currency being carried on the blockchain.
Cardano needs a fiat backed stable coin to grow and MEHEN would be a great option over USDC. Either way a fiat backed stable coin is needed and needed now...
Look at Cardano's TVL without a fiat backed stable coin it is in the top ten, now imagine Cardano's TVL with a fiat backed stable coin. It will sky rocket...🚀
I’m not against having circle just like I’m not opposed onboarding any well reputable business trying to build on Cardano. Cardano will remain decentralized no matter what.
My man! Another good one! You are awesome brother.
Zeke! Thank you! I appreciate it.
A lot of people seem to think Cardano needs USDC, but I hadn't considered its implementation is based on Ethereum's accounts-based model. Do we really want to adapt the platform to a bad standard for the sake of liquidity?
I also invested yesterday in Staxum, can´t wait for the launch.
Really good precis about the stablecoin situation Farid
IMO we need it badly. What can the community do to help make it happen?
Short of making noise and trying to raise funds via catalyst, there hasnt been much. A plan for that 8 figures needs to be made.
Better then all the wasted funds spend on things that bring noting serious to the Cardano communeti. @@DappCentral
ANY NEWS ON MIDNIGHT? WHEN IS THE AIRDROP/ IT WAS SUPPOSED TO BE BEFORE END 2023. DO A CATCH UP VIDEO PLEASE
Ethereum’s wallet hacks happen because this very model that USDC is requiring. The native model is much more secure, rather having a smart contract handling your assets.
I agree with you 100% Laleau, its not easy here on Cardano, but well worth the security! Thanks for being a long-time subcriber!
Hey Farid
Happy New Year.
Enjoyed the report.
You stated in the video you Believe tron is untrustworthy.
What facts do you have to back up your declaration?
Not attaching. I have owed tron since 2018. The west hates tron
But it is doing every good work
Ex ample Turkeys use of trx. The inbanked
Please let me know.Seem like you know something i do not.
Sincerely
Frederick
We need CIRCLE whit USDC o Cardano
wow i had no idea they could freeze your usdc. i dont think ill ever trust holding stables for longer than necessary to make my trade
We need the liquidity, badly!!
Why Cardano did not make a company or bank like Circle did with USDC similar will Cardano make with fiat and card regulated.???
Any word on USDA ?
Thank you Farid for excellent&informative video, by which my mind was mostly going around statement, be true to yourself...Usdc/t wouldnt guarantee the needed liquidity, so I would vote no..
Thank you Jegres! As noted by another view, Algo got USDC and it hasnt done much, so while alot of folks have hinted it would fix problems, theres no gurantee as you mentioned.
Cardano is no Algo. No need USDC or we stay behind we need interopbilety@@DappCentral
i need stable coin on cardano network that really mean 1 usd is 1 usd it doest matter usdc or not
USDC will be huge
If we can settle the blacklisting, I think the community would be much more open to them. Thanks.
As soon as Mehen launches USDM I’ll short the 💩out of DJED, SHEN, and IUSD.
It's necesary.
Thanks for the input Manuel!
Thanks to you for the dedication and attention.
👍
GM!
GM Cardano fam!
Cardano Boss😎
Also, why isn't Cardano burning coins like the other chains? Every year lots of ada gets released into circulation and without coin burning, does this mean ada is inflationary (thus the price gets suppressed)? This is a legit question I have, hope someone can explain this to me 😅
Doesn’t make sense staking so easy
You can only burn tokens you actually monopolise. If all of Cardano tokens were fairly distributed, whose tokens are you going to burn?
You could use transaction fees from the network to buy and burn the coins
Really comes into one's choice. At least with ADA stables you have control of your transactions. USDC is ok but the fact that they can block transactions is scary.
Gaming and e-commerce projects will rule this bull run. That is why I believe Illuvium and Staxum will crush other projects.
That's not how USDC works. You can't use it without swapping it through Circle mint... so someone has to want to be in Cardano to use the native token.
USDC would be a native asset and not be able to be frozen like ERC-20 based versions. I doubt they bring it to Cardano.
Exactly, they'd lose alot of their current controls. Thanks Zach!
Im liking the shit out
Thank you!
@@DappCentralgood content,,keep the good work up….
Thank you! Will do.
there is nothing in store for $usdc if they keep on running the stablecoin without any proper audits and without any proof that their reserves exist. it even just depegged on some exchanges, how is it going to last long?
Why use USDC? Its been known to have an artificially inflated market cap.
dca ada
Tron USDt very cheap to use
Wen usdm 😢
Hopefully soon - no official date yet though.
Gonna pass on stablecoins if the only option for a stablecoin is USDC. As long as its reserves are still not proven, I'd rather have fiat, thanks.
I really hope we dont, we dont need them, they need us
Usdc and usdt limits our freedom because of the freezing capabilities and monitoring. If we are able to get a non freezing and monitoring version then id support it, but for now it would be a very poor move for the ecosystem
That is speaking in terms of freedom and I like it a lot. but I have a question: should #Cardano's #interoperability, self-custody and privacy be able to wrap these tokens and give them these properties?
USDC will settle for nothing less than their 100% right to take any USDC in anyone's hot wallet at any time and at their sole discretion. Regardless of whether or not it is to prevent a criminal activity. Currently Cardano is not set up for any entity to remove your coins without your approval, full stop.
Need USDC, but I won’t be using it
Thanks for the input Josh! I personally dont hold alot of stables either! Im here for the volatility lol
CARDANO NEEDS USDC USDT
No
@@ZackLee Cardano cannot compete with the other chains!
Lol, and yet it is the 8th highest market cap in crypto
Do we really need it?
We can build our own
Do both. Adopt usdc and build our own. These things take time. When Mehen comes out it'll take a while to build the same level of reach that usdc already has. In the mean time why not use usdc in concert with other stable coins@@ZackLee
@@ZackLeeso what does it mean interoperability? It is important to have other works for the ecosystem that demonstrate interoperability and the capacity for integration, only nothing survives on its own, we must cooperate with other bodies.
$10 or 20 million, don't matter. Well worth the cost of integration.
It’s a problem. It’s a huge problem
Thanks for your take on this!
Can’t see it happening. Charles stated his dislike against government fiat in the congress meeting thing he went to awhile back
But its not up to charles.
If Cardano is a open protocall as they claim and argue to the SEC. Its all up to developers.
@@fixieroy then we we lose the point of crypto. and end up like the rest of the sheep chains and more for for gains
Screw circle. Kyc survellience and bribe machine. Next.
it does not!
Agreed
Thanks for the input! Seems the majority of viewers are also against it
What’s with the Tron hate? Your dismissiveness seems arbitrary.
Hey Brad, I just stated that in my opinion it’s not fully trust worthy, I don’t hate them. Those are completely different. I said that because there appears to be a ton of bot activity and potential wash trading going on to boost its numbers. Could I be wrong yes, but that’s what I didn’t focus on then. I hope that helps.
Cardano don't need to invent the wheel again USDC is there already !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Cardano is losing too many projects, and thats because we do not have a multichain stablecoin giving us liquidity both in and out the ecosystem. Cardano is FARRRR to insular and inward looking. I witnessed Vodafone come in to the ecosystem with promises, and in a week they disappeared and moved to Solana. Cardano has a poor track record with real world business. Only so long an insular community will last, we can't carry on just buying each others goods, we need goods to come into and leave Cardano.
Fuk trading, get into presales like Staxum, and make 200x in few months.
Thanks.
Emurgo has been radio silent on USDA. I think its a dead project.
USDC is a dumb waste of money. Not needed.
Brody with the stern opinion! Thank you for always showing up!
@@DappCentral I feel quite strongly about this: there’s no way that a centralized, shady stablecoin which happens to have garnered some mainstream attention and investment demanding an eleven figure bribe to be integrated into Cardano is superior to a properly built native solution which offers the same functionality without USDC’s potentially likely tradeoffs or failure points.
@@brodyalden well said. It’s literally the popular kid on the block. I think the people that want usdc thing it’s going to automatically bring attention, when it reality it guarantees nothing.
@@DappCentral attention isn’t worth that kind of price tag. If USDC were better built it might be worth a thought; but I’ve been hearing concerns since 2021 about how non-transparent it is.
Crypto enthusiast here, and Staxum just joined the ranks of projects that make my heart race. And you can still get in early as a f...
Staxum might be joining the ranks of the major exchanges soon - fingers crossed, very glad I aped into the presale, hurry up guys!!!!!