This also means that if they don't meet expectations, the pylon pools can be revoked by the @pylon_protocol DAO. Essentially cutting funding to the project.
These features are being enabled with the coming Columbus-5 upgrade.
History:
- Austrian economist F.A Hayek postulates incentive markets are better than gov FIAT, 1976.
- Sees a world of free people, money, and capital movement.
- Self-interested banks would a better job at value preservation.
- Is being built rn, Stablecoins.
Stablecoins:
- Current iteration is a liq bridge, ref point Dollar.
- Very difficult for fiat and stables alike.
- Ex Thai baht removal US peg -> currency devaluation crisis.
- EX MakerDao black Thursday, cascading liq.
- Need development and network effects.
- Enter Terra, Djed