Polkadot的Pusd：本地穩定或冒險的賭注？

Polkadot認為Pusd是一種由點支持的Stablecoin，引發了關於權力下放與風險的爭論。這是自治的關鍵還是過去失敗的重複？

Polkadot's pUSD: A Native Stablecoin or a Risky Bet?

Polkadot的Pusd：本地穩定或冒險的賭注？

The Polkadot community is buzzing about a proposal to launch pUSD, a native stablecoin backed entirely by DOT tokens. The goal? To reduce reliance on centralized stablecoins like USDT and USDC and keep value within the Polkadot ecosystem. But is it a game-changer or a gamble?

Polkadot社區正在嗡嗡作響，以推出PUSD的提議，PUSD是一個完全由DOT令牌支持的本地Stablecoin。目標？為了減少對USDT和USDC等集中式穩定的依賴，並將價值保持在Polkadot生態系統中。但這是改變遊戲規則的人還是賭博？

The Push for pUSD

PUSD的推動

Bryan Chen, co-founder of Acala, introduced the idea, suggesting pUSD be launched on Polkadot’s Asset Hub using the Honzon protocol. Chen argues a native stablecoin is vital to prevent Polkadot from losing liquidity to chains that already have one. Think of it as Polkadot flexing its DeFi muscles.

Acala的聯合創始人Bryan Chen提出了這個想法，建議使用Honzon協議在Polkadot的資產中心上啟動PUSD。陳認為，一個本地穩定的穩態對於防止波爾卡多失去流動性到已經擁有的鏈條至關重要。可以將其視為Polkadot彎曲其除肌的肌肉。

Acala's Shadow

阿卡拉的影子

However, the ghost of Acala's past haunts the present. Acala’s previous stablecoin project, aUSD, collapsed in 2022 after an exploit. This has led to skepticism, with some community members wary of entrusting Acala with another stablecoin. Trust issues, anyone?

但是，阿卡拉（Acala）過去的幽靈困擾著現在。阿卡拉（Acala）以前的Stablecoin項目AUSD在剝削後於2022年倒塌。這引起了懷疑，一些社區成員對Acala與另一個Stablecoin保持警惕。信任問題，有人嗎？

Gavin Wood's Vision

加文·伍德的視野

Polkadot founder Gavin Wood envisions a broader strategy, including both fully collateralized stablecoins like pUSD and more flexible “stable-ish” assets. He even suggested paying validators in pUSD to stabilize their income and attract institutional players. It’s like giving Polkadot a financial facelift.

Polkadot創始人Gavin Wood設想了更廣泛的策略，包括PUSD等完全抵押的Stablecoins和更靈活的“穩定”資產。他甚至建議在PUSD中支付驗證者，以穩定收入並吸引機構參與者。這就像給Polkadot進行財務改頭換面。

The Risks and Rewards

風險和獎勵

pUSD aims to provide Polkadot with greater financial autonomy, but the DOT-only choice highlights some critical issues. Risk concentration, governance clarity, technical framework, limited initial liquidity, and reliance on oracles are all potential pitfalls. Diversifying collateral, as some analysts suggest, could reduce systemic fragility. Think of it as not putting all your eggs in one DOT-backed basket.

PUSD旨在為Polkadot提供更大的財務自主權，但僅點選擇的選擇突出了一些關鍵問題。風險集中，治理清晰度，技術框架，有限的初始流動性和對甲殼的依賴都是潛在的陷阱。正如一些分析家所建議的那樣，多樣化的抵押品可以降低全身性脆弱性。可以認為這不是將所有雞蛋放在一個圓點支持的籃子裡。

Community Concerns

社區關注

The community is focused on the role of OpenGov in setting parameters, corrective actions, and responsibilities. Transparency is key for user trust. Public audits, specifications on oracles, and on-chain monitoring plans are essential. It’s like making sure everyone knows the rules of the game.

社區專注於OpenGov在設定參數，糾正措施和職責中的作用。透明度是用戶信任的關鍵。公共審計，甲殼上的規格以及鏈上監控計劃至關重要。這就像確保每個人都知道遊戲規則。

The Road Ahead

前面的道路

As the voting continues, the future of pUSD hangs in the balance. Will Polkadot embrace this native stablecoin and strengthen its position in the DeFi world? Or will the risks outweigh the rewards? Only time will tell.

隨著投票的繼續，PUSD的未來懸而未決。 Polkadot會擁抱這種本地的Stablecoin並加強其在Defi世界中的地位嗎？還是風險大於獎勵？只有時間會證明。

So, Polkadot's trying to level up its DeFi game. Whether pUSD will be a critical hit or a face-plant remains to be seen. Stay tuned, folks, because this crypto drama is just getting started!

因此，Polkadot試圖升級其Defi遊戲。 PUSD是否將是一次關鍵的打擊還是麵包植物仍有待觀察。伙計們，請繼續關注，因為這部加密戲劇才剛剛開始！