Mindao: The Stablecoin Act is a Purge of Native DeFi Stablecoins and Most Existing Fiat Stablecoins
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May 20 news, Mindao, the founder of the DeFi protocol dForce, stated on social media that the stablecoin bill is a purge movement against native DeFi stablecoins and many existing fiat-backed stablecoins. The industry has entered the closing phase. USDC, a semi-compliant fiat-backed stablecoin, also has a very shallow moat and faces a dimensionality reduction attack.
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