11-15, 10:30–11:00 (Asia/Bangkok), Stage 1
USDC and USDT outpace decentralized stablecoins in large part due to their liquidity. This talk covers the theory, data, and risks of stablecoin liquidity innovations. This will include mint/redemption mechanism design, liquidity pool design, rehypothecation, and protocol-owned liquidity. The analysis will distill how the flexibility of decentralized stablecoin issuance mechanisms can safely be used to their advantage over centralized stablecoins, which Gyroscope v2 is putting into practice.
Ariah designed and built key parts of Gyroscope’s GYD stablecoin and liquidity pools. He is a DeFi researcher with a track record of predicting design problems in stablecoins, including issues that manifested in Dai’s Black Thursday crisis and in Terra’s collapse, and holds a PhD from Cornell University.