Asset Backed Stable Coin
Asset Backed Stable Coin is creating waves in the cryptocurrency world to counter the volatility of other utility coins such as Bitcoins and Ethereum. If you have an asset and then create an Asset-backed Stable coin which controls supply and demand through an algorithm thereby reducing your effort.
In any case, the more crypto asset markets grow and attract new capital, the more room there is for stable coins – specifically those that appeal to the more risk-averse investors sitting on the sidelines.
While some stable coins maintain stability strictly algorithmically (there’s nothing backing them), many of the most promising projects are pegged to the price of an asset and – in the best case scenario – are actually redeemable and backed by that asset.