Merge all the stable coin into one.

[JooBra]

We don't need monopoly in crypto so having wider range is stable coins is good thing. If they are trusted I don't see a problem with having more of them.

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[joro-metaversa]

Economic liberalism and freedom brought me to the crypto world. After a couple of years in crypto I reached a cognitive dissonance. I hate regulation, but I strongly believe stable coins are crying for it. Change my mind.

[calya]

Different stable coin issuers means different companies so merging may take a lot of talk and agreements between them its not easy to happen especially when it comes to profit. Much better if they will issue coins separately and have different advantages from each other so investors will have many choice of what they want to use.   

merging all stable coins into one coin only really difficult, most of them have different algorithm about pegging their value to dollar. some of them even have value less $1 such as stable coin in wave recently that reach 0,65. personally  i see it as difficult thing to unite them.

[Emitdama]

Yes, I’ve also had the same thought that having too many stable coins in the market is totally unnecessary. But there’s nothing we can do about it, developers just want to make money and that is it, they will keep on competing with each other and you will still keep on seeing more and more stable coins being released into the market. It is never going to stop. If there is the possibility of merging all the stable coins together I will say that it would be into two places.

There are some stable coins that are centralized and regulated (e.g USDT) : these ones can go together, while the ones that are decentralized such as DAI can be merged together. That way we will have just two stable coins, a centralized one and the other that is decentralized.

[Erdogan]

There are many stable coins in the market with a different name. The only difference between them is the blockchain they use and the assets they collateral. Stable coins are usually backed by fiat currency, commodities, crypto assets, and Seigniorage but they all have the same purpose. Recently terra announced a stable coin backed by bitcoin and rumors spread that near protocol is going to issue another stable coin. My question is why do we need so many stable coins when they all serve the same purpose?

What I saw from the market is they are trying to overthrow one another from the top position. The total stable coin supply is $180 billion. Is it possible to merge all these coins into one universal crypto stablecoin so that users do not need to switch between these stable coins again and again?

Most, if not all, stable coins are simply privately owned products. What you propose is just as possible as asking that all beer producers start making only one common and this same. Of course it is impossible and be prepared for the fact that the number of stable coins will increase rather than decrease.

[KennyR]

Different altcoins have got different backing mechanism. Having their own stablecoin will let them have stability in fund management against the unexpected market crash/drops. This is the reason why developers try to have their own stablecoin. Making every stablecoin get unified into a single one is good, but the same could create controversy with the backing. Switching between stable coins isn't a big deal, and different stablecoins have difference in the marginal variation. This too serves as a people going for specific stablecoins.

[Rengga Jati]

...My question is why do we need so many stable coins when they all serve the same purpose? ...

In my opinion, it's about money that will be gained by creating the stable coins, shortly, it's about Business done by a company by offering their own project (in this case stable coin), with their very interesting offers, promises, advertisement, and also all strengthen that they offer over other stable coins.

and to merge them?
I don't think that it can be because they come from different developers, companies and also projects. They are trying to compete each other by offering their best stable coin.

For me, I will no matter of how they create new stable coins again or not, it's like other altcoins that are coming new almost everyday.
I just need to use some of them that considerably needed and matched with what I need, it's enough.