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How can a stablecoin be developed on a Substrate-based blockchain? I came across this question, which suggests following the implementation approach of Acala. However, are there alternative methods to create a stablecoin apart from this route?

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  • Highly depends on if you want to use a simpler issuer-backed stablecoins, or some kind of algorithmic stable-coin. In both cases, though, you would probably opt to use an instance of pallet-balances or pallet-assets and provide the mint/burn privileges to either the issuer or the runtime, respectively.
    – kianenigma
    Commented Aug 28, 2023 at 7:53
  • is the token created using pallet-balances or pallet-assets considered as stablecoin?
    – go11li
    Commented Aug 28, 2023 at 11:25

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