Stablecoin on Cosmos

I did a small research and found out there is no stablecoin that used by the majority of users on Cosmos.

Currently, there are a few stablecoin projects on Cosmos:

  • $IST from Inter Protocol where they accept stablecoin collateral (and will launch $ATOM vault pretty soon)
  • $USK from Kujira, and $CMST from Harbor Protocol (Comdex), which this two stablecoins are utilized in their own ecosystem
  • $SILK on Osmosis
  • Wrapped stablecoins from Axelar ($axlUSDC, etc)
  • Noble (co-founded by Jelena) is planning to bring native USDC to Cosmos.
  • (rumour) Maker DAO is coming to Cosmos, means $DAI will be live here.

In Ethereum, most of the users are using $USDC, $USDT, and $DAI; why is there no major stablecoin that been utilized on all IBC chains yet?

1 Like

So its a bad thing there is no centralization? Thats a good thing pal. I think you should check out the UST story too

It is not about no centralization.

I think it does not have enough utilization on Cosmos.

What exactly doesnt have enough utilization on Cosmos?

Sometimes you can judge a book by its cover, or profile picture sir.

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