Im on the same page with you about intention/function. Andre talked about it as “an auto rebasing index” which I think confused a lot of people. In my mind this is basically the absolute thinnest protocol you can build on top of chainlink to create a versatile stablecoin.
Question 1)
What would happen if we only track stable coins?
- I dunno, nothing particularly interesting. Basically you would get Mstable or something, but Im not really sure why you would do this.
- What would happen if we only track classical coins and stable coins? You would get Maker but with much more capital efficiency, no stability fees, or unnecessary governance. See my comment (and the overall thread) here: Suggestion what to do with SyntheticRebaseDollar
What is your role? Would you like to work on this project with me? I am an engineer, and I have been studying stablecoin designs for most of 2020.