Since this forum has been launched the two areas of opportunity I feel have seen portrayed are the liquidity of the LP’s and the use case of STBL. I also think this is a little bit of a chicken and an egg situation where should the strategy be to push for more use of STBL or the growth of the LPs (or the hope both grow together hand in hand). Discussion of the LP’s has already started so I wanted to dive into STBL.
First I want to list where STBL is accepted. So please reply and I will add to an ongoing list here in this comment.
Second I want to see where do you think it would be beneficial for STBL to be adopted and how you think that partnership should be explored. Do you think it should be from Algofi themselves or from the community.
STBL2 usage across other ecosystems will drive huge adoption for Algofi. The team really needs someone whose sole job is to drive business partnerships for accepting STBL2 and also provide an excellent onboarding experience for vendors who are interested in accepting STBL2 and help them get it set up (and provide seamless swapping for USDC-a).
Definitely using STBL2 across the Cosmos ecosystem would be huge, being able to trade in and out of ATOM and STBL2 would be a awesome (goATOM/STBL2). Another one would be Flexa, using STBL2 for real world payments would be another game changer
Stbl2 would be a great tool for connecting to other projects on different chains. Would be cool too see something launched that allowed for bridging stbl2 to other chains and their projects. Right now I farm games and other apps for passive income, then have to move to EOS then to an exchange, then all the way back to Algorand. Having a launch deck/connection for encouraging already useful and successful projects to include Algorand would be cool.
It's complicated and a lot of work to connect to an already made app without a huge commitment. If there was a stbl2 related way to create a Dapp, or project, that allowed the Algorand community to approach other projects, and implement bridging them together. This idea would make it so that we basically build half a bridge, that can be connected to ANY useable Dapp on any chain,
Small example… Let’s say there’s a game, that rewards players NFTs and passive income. Has it’s own coin, staking, and is a successful project. The project itself is nice with the passive income, but the fact that this game revolves around staking NFTs, and earning them, creates a DEMAND for NFTs. If Algorand was apart of that project that spans across multiple chains, Algorand could benefit from the DEMAND the game creates. Without the hassle of creating a project like that itself from scratch.
Then the game works with Algorand to COMPLETE that already half made bridge. Would act as a start up/launch pad, but for getting stbl2 adopted by already usable projects and services. Creating an easy access entry for NEW usages to adopt algorand. Now, this so called game just had to agree, and complete a basic step to list stbl2 as a reward, and integrate algorand NFTs as stakable.
The conclusion would be, having a stbl2 driven omnibridge. That makes it easy to take that leap to adopt stbl2. That way, Algorand can get adopted into already established projects easier. In this example, it would open Algorand to a game-fi based project which revolves around earning and staking NFTs. Not only would it create another usage for stbl2, but it would now have given Algorand access to create NFTs for their project, and the NFTs on our blockchain to have something they can be staked into, for extra passive income.
The key concept though isn’t just that game, which is a real game actually. It’s having the stbl2 coin as a half built omni bridge, that exists to make connecting already established crypto projects to Algorand. Leads to easy mass adoption. Any multichain project that Algorand isn’t apart of, could be easily approached, and integrated, without having to build from the ground up a bridge. Seems wild, and farfetched… Seems possible, too. Not really a launch pad for new projects, but a stbl2 driven omni bridge for integrating already successful multichain projects into Algorand to increase it’s usage cases.
FXDX is one that comes to mind. Adding STBL to the FLP index and supporting the asset as a trading pair will benefit the entire ecosystem. Getting STBL on a CEX is also a worthwhile effort to explore. A debit card that loads with STBL extends real world use cases. Minting STBL with a basket of Lofty Tokens and loading to a debit card.
Every Lofty account comes with a default Algorand wallet. This wallet is created with USDC and STBL ASAs already added. However, based on my usage an interaction with Lofy it’s primarily an ALGO and USDC platform.