The question is: what is a stable coin at its most fundamen…
The question is: what is a stable coin at its most fundamental level?
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John Nash in "ideal money and asymptotically ideal money":
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Ideal Money as a Concept
A paper has already been published on the topic of “Ideal Money” and with that title.
That paper of ours was published in the Southern Economic Journal after a lecture had been given on that topic at the meeting of the Southern Economic Association in Tampa, Florida.
So it is better now not to cover again in full the grounds of the ideas presented there and the specifics about how “ideal money” currencies could be arranged for by using linkage to an appropriate index of the prices of internationally traded commodities. (Note that gold and silver are EXAMPLES of internationally traded commodities.)
After tokenizing and indexing different commodities, indexes and stocks we may eventually come to the conclusion, that bitcoin is automatically linked to all prices of internationally traded commodities and therefore already is the ideal money and stable coin we have searched for.
Not 100% sure about it though.