Both are stable coin intended to have value equel to a US dollar 💵.#Write2Earn#USDt#USDc#CeFi#DeFi 1️⃣ USDC has low adoption and trading pairs.2️⃣ USDC is back by reserve and regulated like fiat currencies by authorities.3️⃣ USDC is subject to conventional risks because of centralizatio and single owner entity.4️⃣ USDT is not backed by proven reserves and therefore higher risk (other like cryptocurrencies).5️⃣ USDT is well established, while USDC is growing in popularity for its compliance and transparency.Community trust is the everything if some coin losses it due to any issue it will doom!What is the downside of USDC?USDC, like other stablecoins, faces common drawbacks such as centralization risks due to its management by a single entity, Circle, and regulatory risks linked to the evolving financial regulation landscape. It also carries counterparty risks, relying on the trustworthiness of Circle and its banking partners. In addition, USDC is tied to the traditional financial system, inheriting its vulnerabilities, and is subject to smart contract risks inherent in blockchain technology. While offering stability, it lacks the high return potential of more volatile cryptocurrencies, presenting a limited use case primarily as a stable medium of exchange or store of value.
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UMA Launches Oval Solution for Decentralized Oracles in DeFi Protocols 6:00 AM・Jan 24, 2024
According to Foresight News, decentralized oracle UMA has introduced the Oval solution, allowing DeFi protocols to access the value generated during oracle updates by utilizing 'oracle extractable value' (OEV). The Oval solution is a collaborative effort between UMA and Flashbots.
The new solution aims to improve the efficiency of decentralized finance protocols by enabling them to tap into the value generated during oracle updates. This is achieved through the use of oracle extractable value, a concept that allows DeFi protocols to benefit from the information provided by decentralized oracles.
UMA's partnership with Flashbots, a research and development organization focused on minimizing the negative externalities of current MEV extraction techniques, has led to the development of the Oval solution. This collaboration aims to enhance the overall performance of DeFi protocols and promote a more efficient and secure ecosystem for decentralized finance.