devcon 7 / reclaiming our dollar8 billion funding public goods with stablecoin profits
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Reclaiming our $8 billion: funding public goods with stablecoin profits
Duration: 00:08:40
Speaker: Garm
Type: Lightning Talk
Expertise: Beginner
Event: Devcon
Date: Nov 2024
Ethereum is stuck in a dark deal with two companies. They control ~all stablecoins; facilitate 49% of DEX swaps; and can overrule all future hardforks:
Circle & Tether.
In return, they reap $7.4B in stablecoin earnings (2023).
But wait—that’s the interest on OUR money! We should be in control.
Giving to holders is illegal, but funding public goods isn’t.
If we coordinate, we can switch to nonprofit stablecoins and reclaim billions for eg Protocol Guild, R&D, DeFi infra, OSS—or other causes.
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