What are the safest stablecoins?
Surprisingly, not the ones you'd think.
That’s according to a nonprofit rating agency with SMIDGE rating criteria. 🧵🔽
I’ve spent a long time looking for a stablecoin rating system, but most were never truly independent.
Either the agency was promoting its own coin, or getting paid to boost others.
That’s why I found @bluechip_org so interesting.
It’s a fully independent stablecoin rating agency, and their scoring system is special.
According to them, the top 3 stablecoins are $RLUSD, $LUSD, and $GUSD, no $USDC or $USDT in top 3.
$USDC is ranked 8th with a B+ rating.
$DAI is 10th, also rated B+.
And $USDT? Way down at 16th place with a D rating.
These rankings clearly don’t reflect market cap, there’s far more USDT in circulation, but it scores poorly.
But that’s not surprising.
We don’t always use what’s safest, we use what’s best marketed or easiest to access.
Most people use Windows because it’s simple, but Linux is the safer OS.
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