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Why ETH-Backed Stablecoins Will Beat Bank-Backed Stablecoins with Michael Svoboda

February 10, 2026, 1:32 AM
Why ETH-Backed Stablecoins Will Beat Bank-Backed Stablecoins with Michael Svoboda
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ETH-Backed Vs Treasury-Backed Stablecoins

What if your stablecoin didn't depend on banks or any centralized entity?

Michael Svoboda, Liquity CEO, explains the case for fully decentralized stablecoins: peer-to-peer credit markets where borrowers pay holders directly, 8-15% yields with zero counterparty risk, and true sovereignty.

We cover:

- The Hidden Counterparty Risk in Treasury-Backed Stables
- Why ETH-Backed Stablecoins Offer True Sovereignty
- $10T Monthly Stablecoin Volume Explained
- Peer-to-Peer Credit Markets: Zero Middlemen
- 8-15% Yields Without Banking System Exposure
- Freedom Stablecoins vs Regulated Models
- The Case Against Centralized Control

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