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Has PIVX ever considered running USDC or similar stablecoins on PIVXs network?

Helmuts

Helmuts

Pivian
Hi PIVX community,

I am a little obsessed with the idea of introducing stablecoins like USDC on the PIVX network. Has anyone considered this before, or are there any existing proposals? I'm curious about the feasibility and potential benefits.

How challenging would it be to implement the required smart contract functionality or protocol compatibility for token issuance, transfers, and other operations on the PIVX network?

Just thinking out loud here, but it seems running a stablecoin on PIVX could offer more benefits than seeking exchange listings or maintaining artificial liquidity. My intention is not to offend anyone; I'm genuinely interested in exploring this possibility.

Moreover, if PIVX decides not to explore this avenue, I'm considering testing the idea on the Maria chain. Similar to how LTC tests concepts for BTC, I believe this could kickstart a wave of PIVX forks embracing tokenization. How expensive could a beta product be?

Any insights, thoughts, or guidance on this matter are highly appreciated!

Best! Helmuts
 
PIVX does technically have smart contract functionality, but only at a very limited scope to support Staking and Masternode rewards, and Treasury payments. It does not support the popular definition of Smart Contracts.

Not sure how your idea would benefit PIVX.
 
Eric_Stanek said:
PIVX does technically have smart contract functionality, but only at a very limited scope to support Staking and Masternode rewards, and Treasury payments. It does not support the popular definition of Smart Contracts.

Not sure how your idea would benefit PIVX.
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Thank you Eric. Have there historically been any suggestions to explore this venue?

1) This would boost the popularity of PIVX as would attract the eyeballs of USDT users.

Currently the winner seems to be USDT on Tron - fast and relatively cheap.. I am betting that we could beat the price, and keep more or less the same speed.

Just thinking :)
 
There have been suggestions to make PIVX a stable coin, and to add full blown smart contract functionality. Neither idea ever gained any traction. To me, that makes sense.
 
Eric_Stanek said:
There have been suggestions to make PIVX a stable coin, and to add full blown smart contract functionality. Neither idea ever gained any traction. To me, that makes sense.
Click to expand...

ahhh, that is totally something else, of course :D :D .. and a totally different coin :) .. and, of course, doesn't make sense :)

has anybody suggested added another layer to be able to run NFTs on the PIVX network? .. I don't get 99% of NFTs, though there are some artists (true 'artists') in this space I like, and 1 project I have an emotional connection with.
 
Eric_Stanek said:
Of course it's been suggested. Probably 100 times.
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:) haven't noticed before. .. ran a search on this forum, and the only one I could find was 1 mention at https://forum.pivx.org/threads/the-new-pivx-economic-model.1100/

checked the discord, and is this the latest answer?
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tx, H

--

this is the exact reason why I hate discord > everything is a mess.. one huge mess organised in category-type shelves. .. forums are so much more organised and searchable.
 
Are you suggesting that every time someone on the Internet says "Hey! Why doesn't PIVX do ________" that the dev team should just drop what they're doing and make that idea a priority? That's ridiculous.

Just because some random anonymous person, who likely has no clue about what they are asking in terms of technical requirements or effort to implement, let alone representing the PIVX Community as a whole, suggests something, doesn't mean it deserves any attention at all. Such an approach would kill dev team focus and kill PIVX.

This is aside from the fact we are severely lacking development resources, and over a year behind on v6.0 because of that.

The approach needs to be completely different. First question is; Does the suggested functionality support the goal of PIVX to be a privacy focused currency? The answer to that question with respect to NFTs is a clear No to me.
 
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