Yesterday, the fact that OUSD managed to get Circle's CEO to personally step in and criticize it is already half the battle won . According to Jeremy, USDC + USDT currently account for over 99.5% of stablecoin adoption. So, if it were just an ordinary competitor, he definitely wouldn’t have written such a long essay. Jeremy’s main criticisms of OUSD focus on three points (TL;DR version): 1. Free redemption is a no-go. It opens the door to vampire attacks from competitors—people might swap tokens first and then redeem from you when they want to cash out competitor stablecoins. 2. Revenue sharing is a no-go. Because channel fees are super expensive, and building infrastructure burns a ton of money. 3. Too many logos is a no-go. When pushing things forward, too many voices make it messy and less agile. #Crypto #Stablecoins #OUSD #USDC #DeFi