Reddit, Stablecoin, Fiat discussed on Crypto Altruism Podcast


Because yeah, right now, the way it is with Reddit, it really is sketchy. It's really hard to know if when someone signs up to be an auntie if they're trusted, like how can we know? Yeah, so in this way, we've kind of come up with more of a way to vet people to make sure that it's as safe as it possibly can be. And then let's say that we need to do some effort that doesn't necessarily involve reproductive health services. We have this giant network of people and they're going to be ready to help. And yeah, the second mission is the DeFi protocol and the Dow. Obviously, we're going to be taking a bit of the profits from the DeFi protocol and using that to support the aunties in the network. So what that will mean, because right now on Reddit, they can't offer anything financial. But we would love to be able to reimburse antis for any costs they incur. You know, like it would be as simple as bringing a receipt to the website uploading it and getting approved. And then since we're partnering with a service called bank so, we'll actually be able to let people withdraw from stablecoin to Fiat without a KYC if it's under a certain amount of money. So we're keeping the identity safe. Once again, it's just a way to keep this network anonymous, safe, immutable. And then the second mission is to create a really stable Dow. Like something that isn't as volatile as some of the projects that we've seen, I'm definitely taking a lot of inspiration from other doubts that have existed so far. And I've studied a lot of the ways in which they failed. So yeah, that's it. It's to generate for us it'll be like, we have more than one DeFi protocol in mind. Obviously there's the Dow and there will be the governance token. We're going to offer staking and bonding mechanisms in the way that Olympus Dow did, but we have a bit more of a stability algorithm in place for the main token. I've also looked deeply into DeFi insurance, which is way more impressive than I thought it would be at this stage. I don't know if you've looked at nexus mutual before, but there's all kinds of things that they cover in terms of they do insurance for protocols, economic design failure, Oracle failure, which is a big one, or a call failures have been pretty bad.

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