We Need a Dash Stablecoin

Dash is pure genius, it is a hybrid evolution of proof of work, it is investment, it is governance, it is InstantSend and ChainLocks for 51%-attack-proofness, it is username-based payments done right on the blockchain, it is pioneering ground teams with real merchants, it is business development and more.

But Dash continues to be volatile. So volatile it scares regular merchants, consumers, remittance recipients, etc. Volatility gets in the way of us reaching a large part of our target market. Volatility pisses people off. Volatility leads regular people to ask, why they hell did you not just make a digital payments system that uses stable fiat currency … you weirdos??

We know why. But getting your average merchant to understand — to truly get it — requires more time than they are willing to give us in just one sitting.

Enter stablecoins. Volatility solved. Best of both worlds. Dash investment unit. Dash stable/spending unit. Genius squared.

But using stablecoins right now is not possible in the Dash mobile wallets. Even in Coinomi and Edge it can be complex, expensive and unpredictable.

A Dash stablecoin is not just something we need. It is a market opportunity that can accelerate us toward our goal of mass adoption, the kind of adoption that is going to generate the demand and transaction level required to push the Dash price up.

Options include:

  • Dash stable asset that runs on the Dash blockchain (hard and expensive but maximum utility)
  • DAI-like device that locks and releases Dash (less difficult, still a lot of utility)
  • USDT-like token backed by bank deposits (ugly, problematic and hackish but fast)
  • TUSD, USDC, DAI or other stablecoin controlled by someone else (quick and dirty)

Stages:

  1. someone else’s stablecoin in the wallet
  2. partner with DAI
  3. eventually have our own DAI-similar asset

We need a technical team to start work on this today.