SotN #28: Uncollateralized Stablecoins | Dan Elizter

ESD, BasisCash, and how algo coins are backed by faith and yield!

Level up your open finance game five times a week. Subscribe to the Bankless program below.

Join the Bankless Nation


Listen to Episode 28 of State of the Nation!

Listen to podcast episode | iTunes | Spotify | YouTube | RSS Feed


Tools from our sponsors to go bankless:

⭐️ AAVE - BORROW OR LEND YOUR ASSETS
https://bankless.cc/aave

🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP
https://bankless.cc/go-gemini

💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith

📈 KWENTA | DEVIRATIVES TRADING WITH INFINITE LIQUIDITY https://bankless.cc/kwenta


📺 State of the Nation #28: Uncollateralized Stablecoins | Dan Elitzer

January 5th, 2020

Dan Elitzer recently co-founded Nascent (nascent.xyz), a venture capital firm that is deep in the weeds in some of the most experimental projects in the Ethereum ecosystem. 

In the 2nd half of 2020, some of the coolest experimental projects have been Algorithmic, Uncollateralized Stablecoins. 

These are stablecoins without dollars in a bank, or without crypto in a vault. They are completely backed by financial incentives.... and faith in those incentives. 

In this episode of State of the Nation, we begin by defining the 'Stablecoin Trilemma' (https://imgur.com/a/Uj0HBL3), and discuss some of the history of stablecoins. 

Then we turn to the current design philosophy behind algorithmic stablecoins, how they work, what makes them stable, and who gets the upside?

We largely discuss Empty Set Dollar (ESD, https://www.emptyset.finance/), but also discuss Basis Cash, and Ampleforth. 

Tune in, to hear about this exciting emerging corner of the DeFi ecosystem!


Episode Actions

  • Give Bankless 5 stars on the podcast! Let’s get to the top of the charts 📈

Also...subscribe to Bankless YouTube to watch State of the Nation every Tuesday.

Subscribe to Youtube


Subscribe to the podcast on iTunes | Spotify | YouTube | RSS Feed

Leave a review on iTunes

Share the episode with someone you know!


Go Bankless. $12 / mo. Includes archive accessInner Circle & Deals(pay w/ crypto)

Subscribe now


Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.


Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive a commission if you make a purchase through one of these links. I’ll always disclose when this is the case