Arthur Hayes Suggests a Stablecoin Based on Bitcoin.

Arthur Hayes, ex-CEO of BitMEX, suggests introducing a new stablecoin tied to the value of $1 of Bitcoin and one inverse perpetual swap of BTC/USD.

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In a March 8 blog post titled "Dust on Crust," he described the concept of the future Satoshi Nakamoto Dollar (NUSD), also known as the NakaDollar.

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NakaDollar won't use USD reserves like USDT and USD Coin; it will solely depend on liquid inverse perpetual swaps listed on derivatives exchanges.

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The NakaDollar stablecoin creation procedure won't involve any USD transactions that need banks' services at all.

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As per Hayes, the planned NUSD stablecoin would not be decentralized.

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