A deliberately hobbled AKT stablecoin, designed against death spirals
Akash Weekly Spaces - June 15th (Akash Network)
“We want to introduce an AKT stablecoin, but the stablecoin will be extremely limited to only pay for deployments… send functionality would not be enabled, so there is no incentive to hold the stablecoin except to deploy on Akash… we’re not taking shortcuts like Terra or any of the algorithmic stables.” — 00:21:58
Context: Post-Luna-crash economics work; he warns “if your debts payable is higher than your market value, then you create a debt spiral.”