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Stablecoins used most widely on Klaytn network are bridged from other networks. This causes 1) fee inefficiency 2) time delay 3) lack of scalability in supply. Klaytn Network needs a brand new robust stablecoin model which has 1) strong price stability and 2) high scalability for its Defi ecosystem to grow further.
Most successful stablecoin models are entirely collateralized (such as DAI), or entirely algorithmic. (such as Basis.cash, Empty Set dollar and its variants). Entirely collateralized models often need over-collateralization which lacks scalability, and entirely algorithmic models showed extreme volatility in price stability which often led to lost in confidence from the market.
Our mission is to create the most advanced and robust stablecoin not only on the Klaytn network, but in the entire crypto market.