Dear Nader,

A stable coin would doubtless have many uses from payments to salaries to what not. However stable is a relative word: Bitcoin is very stable in Bitcoin terms but very volatile in fiat currency terms. Basis could be a perfect peg to a fiat currency that itself depreciates over time, Basis would be stable vis-a-vis that currency but that currency being unstable so to say will make Basis de facto volatile.

So stability neeeds a counterparty — stable vis-a-vis X. Well that X being a fiat currency means, Basis becomes that fiat currency in effect with digital trading potential. Make that X the basket of all major fiat currencies, this would be more interesting. Make the X include Bitcoin, Gold etc and perhaps in that way Basis becomes a global reference stable coin. The X i.e. the reference is the strucutral key in the design thinking here.

On a seperate note, as addressed by other commentators on this article, how to achieve sustainable stability with a working decentralized system that has an X is a technological and governance challenge all by itself. But that indeed is the flavor of the game I presume. Yours is either a Herculian task if properly adressed or a crypto shortcut if otherwise; given your enthusiasm and the investor base I’d think the former and wish you the best on that journey.