May 3, 2023: Hyper-Etherization 💱💸
Is smart money de-dollarizing into $ETH?
We often recommend Curve drop 3CRV as the fee token for something else. We previously laid out the case for TriCrypto. In fact, we’ve argued that if all of DeFi de-dollarized, it should consider adopting TriCrypto as a reserve asset.
We still like TriCrypto, especially with the newer gas optimizations degens are starting to appreciate.
Pure beautiful $CRV might also be a good choice for the Curve protocol, but everybody knows issa dump token.
Yet this all belies a simple reality. DeFi has more or less already congealed around a new reserve asset. Is the world ready to dedollarize and denominate in raw ether?