what should USDH team actually do
i don’t believe fully outsourcing the hype native stablecoin to another team makes sense, as it increases concentration risk
look what happened with Binance’s BUSD which fully relied on Paxos
best approach is to wield the balance sheet inhouse but allocate dynamically to different teams with input from delegates such as chaos labs and other risk providers
personally, my mix would be:
- majority in Ethena’s USDE
- a redemption buffer in USDT
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