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.

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.

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

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

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