Tether CTO: Stablecoin Injects Liquidity and Stability Into DeFi

[ChainDD report] April 1 (ChainDD) According to CoinDesk news, Paolo Ardoino, CTO of Tether and Bitfinex believes that stablecoin can inject much-needed liquidity and stability into the emerging decentralized financial (DeFi) field.

Ardoino said that space faced systemic risk if it only leveraged value from the digital asset space. "You cannot have algorithmic stablecoins relying only on the crypto-assets themselves," Ardoino said. The entire value of the DeFi space, a mass of complicated financial products, cannot be based entirely on the value of a volatile asset class without the very real possibility it could all go up in smoke at any moment, he suggested.

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