DeFi Loves ETH, But a Better Base Money is Needed: Ampleforth founder Evan Kuo

Decentralized finance needs a stable money that's uncorrelated with the rest of the cryptocurrency market and isn't issued against collateral, Kuo says.

Happy Friday Defiers! This week’s opinion piece is from Evan Kuo, the founder of Ampleforth. Kuo poses the following problem: The base money for decentralized finance today is ether, which is volatile and extremely correlated with the rest of the cryptocurrency market. Ether is then used as the base for Dai, a stable derivative of ETH, which is subject …