Let us know and we will put it up for a vote on Thursday!
I think UST has a lot of potential for us due to the extensive uptake in daily retail usage in Korea. Tether is a given, that already captures a certain market segment for us. ~4.5m daily retail users in Korea give the luna/terra network a massive edge in my novice opinion. They have a rapidly growing ecosystem and our alignment could capture an organic growth potential from one of the most crypto-savvy countries in the world.
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This is a really well-described intro to Luna/Terra and UST What is Terra Luna?? - YouTube - fast forward to 7m (of only 9m) if you really need just the nub of the argument. It’s the same channel that introduced me to SDAO btw
I think both DAI and UST should be included and when possible, these are the ones that should be used. Another stablecoin that is not yet available for these purposes, but might be in the future, is the $RSV token of the Reserve Protocol.
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DAI and UST make sense. Another coin worth looking into is MIM. It is the 6th largest SC by market cap which is good for liquidity and it is decentralized so that may help with the problem of that nosy SEC calling stablecoins a security 
Also, since we’ve got cardano flowing in our veins these days, let’s add Ardana to the mix!
It’s very new so the liquidity may not be there yet, but we should try to engage with the ADA blockchain as much as we can.
For those interested, here’s a link to Ardana
Centralized stablecoins like USDC and USDT are subject to political risk via the USA government and trust in sponsoring entity managers. Algorithmic stablecoins like UST or DAI are better over the medium to long term. DAI’s collateral is almost 50% tied to centralized stablecoins, which makes it exposed to the above risks as well. UST collateral is tied to LUNA, but I prefer that ecosystem risk to trust in centralized systems. In the short run, because of liquidity, it may be necessary to use USDC and USDT, but we should incorporate decentralized and algorithmic stablecoins as soon as practical.
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The Case for DAI: All Fiat-Backed Stablecoin Can Be Frozen
Why Fiat-Backed Stablecoins Should Be Used Sparingly
Nearly all fiat-backed stablecoins are issued by companies who have shown they will freeze assets when ordered by governmental entities, or even at their own discretion. Earlier this year, in the Polygon bridge hack, the hacker in question returned all the assets they stole, except for the USDT, because Tether chose to freeze the tokens in the wallet. Circle (the maker of USDC) has also said they will freeze tokens when ordered by the US government.
While it is good that this provides possible recourse against criminal action, it is not good for central entities like these stablecoin companies to have the power to freeze assets, especially if they later choose to do it for personal reasons such as stopping a competitor (which SDAO one day may be). For our own good, we need to use a decentralized stablecoin, such as crypto-backed DAI.
Why DAI?
There are other crypto-backed stablecoins on Ethereum that SDAO could use, such as UST, or algorithmic stablecoins such as AMPL. However, there is not a great deal of liquidity for either on Ethereum. UST is a wrapped asset on Ethereum, being native of the Terra blockchain where it is backed by Luna. AMPL has been criticized for not holding its value very well and is not as popular.
DAI is backed on Ethereum by a smart contract, cannot be frozen by centralized entities, and has a great deal of liquidity. It is for these reasons that I propose DAI be used as the primary stablecoin by SDAO for its liquidity pools and prioritized by dynasets on Ethereum whenever possible.
afaik liquidity is the main parameter here so we really don’t have a choice, we have to give priority to the most liquid coins. then in the next phases if there are adequate/positive movements in the space, we could add (or remove…) some coins.
$UST is still early and is behind other stablecoins in terms of MC, but rate of uptake is increasing rapidly. I don’t think it will be too long before the liquidity of $UST pairs is no longer an issue so definitely one to add down the line.
Better stability + decentralization than DAI.
DAI does have the liquidity advantage but there are questions about how decentralized it really is 3 Reasons Why $DAI is DeFi’s Biggest Risk | by Adam Cochran | Medium
I strongly believe that UST is the best option. The problem with DAI is that is is overcollateralized and IMO this sets the balance in favor of UST
Some of the arguments in favor of UST:
- recently surpassed DAI as market cap
- present in almost all chains (IBC, Eth, Sol, BSC etc)
- kept its peg during market crashes
- integrated by several platforms with many use cases
- decentralized, which comes with the advantages presented above over USDC or USDT