This report covers the rise of competitor stablecoins in both the centralized and decentralized space. We break down the space into four major categories: treasury-backed stablecoins, synthetic stablecoins, fully decentralized stablecoins, and novel designs. What design choices have various protocols made when creating their stablecoin and to what consequence? We look at the tradeoffs in their mechanisms and which ones have seen demand and why.
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