Use more decentralised stablecoins !

I don’t understand why theres so much USDT when we could just use DAI or other collateralised stablecoins !
I made a LP pool for BTC/DAI whenever if you know it’s better to hold DAI because it’s always possible that tether freeze USDTs in incognito !

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They will be adding more liquidity for DAI and others as pdexv3 rollout finishes. Sit tight, its coming.

We tried to optimize the initial liquidity to facilitate as many trading cases as possible by leveraging liquidity multiplication and cross-pool trading capability.

As you may see, we created a few PRV pools for big coins such as BTC/PRV, ETH/PRV, XMR/PRV, …, only one PRV-stable coin pool (PRV/USDT) and stable coin pools (USDC/USDT, DAI/USDT, BUSD/USDT). So to trade DAI for BTC with the old pool structure, it used DAI > PRV > BTC but in the new pool structure, it would be DAI > USDT > PRV > BTC with a nearly 1:1 exchange rate for DAI > USDT (thanks to liquidity multiplication). In this case, both get the same result but if someone wants to trade DAI for USDT, the latter would offer a much better rate. In other words, it needs a stable coin playing as an intermediary for trades and we chose USDT since it’s the most popular stable coin now (totally agree with you that DAI is more decentralized and unstoppable so less risky than USDT).

But again, as Brian said, these are just initial pools/liquidity so we wanted to make it as efficient as possible (It would always be better if we can have more direct pools, says BTC/DAI like you said obviously). The team and any liquidity providers can add more liquidity for existing pools or create new pools at some points.

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USDT’s share among the stablecoins is decreasing: https://www.theblockcrypto.com/data/decentralized-finance/stablecoins. USDC’s share increasing fast but it is also not a solution for us. I hope Terra bridge or IBC will be added asap and we will have some UST pairs. To me (at least my hope :slight_smile:), Terra/UST community will love Incognito and provide pDEX with UST liquidity quickly.

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I’m down for this. I haven’t looked into UST before but looking at previous posts, seems like there’s some demand to bring it on platform.

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My first choices would be DAI, USDC, and BUSD. As much as I distrust Coinbase and Binance, I trust USDC and BUSD much more than I do USDT or anything else.

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