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@TheStalwart False equivalence. You're equating centralized reserve governance with centralized infra layers. USDC is a coupon for a $ (for simplicity we can pretend a JPM-held $) that is infra independent and chain agnostic, useful to defi apps on almost any chain that has them.Permalink On twitter.com
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@TheStalwart I agree that each L1 launching its own deposit coin would be dumb, essentially vertical trust building. But what circle has built is a cross-channel utility that makes choice of L1 less determinant, allowing more granular composability and design of apps. Thin layers are good.On twitter.com