Most people don't know you can trade Kenyan shillings for Brazilian reals directly on-chain now. @MarkusMento from @MentoLabs breaks down how 15 local stablecoins don't need to rely on the dollar + why AMMs (still) suck for FX. Timestamps: 00:00 - Intro 01:58 - What is Mento Labs 03:20 - Solving FX with on-chain infrastructure 05:00 - Problems in African cross-border FX 06:40 - Tokenizing currencies and instant settlement 08:14 - Why AMMs don't work for FX 10:01 - How Mento enables arbitrage 11:58 - CDPs and stablecoin minting 14:40 - Borrowing in local currencies 16:20 - Distribution pools and FX trading 18:02 - Cross-border payments and on-ramps 23:03 - Use cases: microlending and local commerce 35:04 - Roadmap: cross-chain, v3, governance
Show original
6.07K
20
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.