Nano
$0.72078 -1.57%
NANO · 1w

Another reason why Nano can't be a stablecoin

Posts advocating for Nano to be a stablecoin come up here regularly and there's been a lot of discussion on that. It makes no sense for Nano to be a stablecoin, but I don't want to get into all the reasons in this post. I just want to mention one reason that I've never seen discussed. Namely, for Nano to succeed in its goal of being a very widely adopted global currency it would need a market cap in the trillions of dollars. Where would the trillions of dollars of assets come from to back a Nano stablecoin? - it seems highly improbable. Widespread adoption (i.e. high demand) is how Nano can reach a market cap in the trillions. That's the practical path, that's what Nano is designed for.
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