Coinbase Plans to Develop Inflation-pegged Stablecoin 'flatcoins'
Despite all the regulatory scrutiny that surrounds the crypto -verse, platforms haven’t stopped building. Prioritizing innovation, Coinbase, a prominent crypto currency exchange is exploring “ flatcoin s” on its Base network. Recently, Coinbase revealed that “ flatcoin s” which are inflation- pegged stablecoins, would be essential to be formulated on the Base network. This is among three other “critical innovations” that are expected to be built on the exchange’s layer-2 network. JUST IN: Coinbase explores creating an inflation-pegged stablecoin by tracking inflation data. — Watcher.Guru (@WatcherGuru) March 27, 2023 The exchange’s latest interest is being viewed as bizarre as most stablecoins are pegged to the U.S. dollar [USD] or a fiat currency. Coinbase’s flatcoins are looking to be backed by the “price of living.” This will be done by tracking the consumer price index, as well as inflation data. The launch of the Base network garnered interest. Now, the layer-2 ne...