Creating the Universal Stablecoin, USBD, backed by Bitcoin, with Sid Sridhar (Bima Labs)
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Creating the Universal Stablecoin, USBD, backed by Bitcoin, with Sid Sridhar (Bima Labs)
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Siddarth "Sid" Sridhar is Founder and CEO of BIMA Labs (https://www.bima.money), a decentralized finance platform that enables users to stake assets like Bitcoin and Bitcoin derivatives such as Liquid Staked Tokens (LST), to borrow USBD, a stablecoin pegged to the US Dollar. Sid talks about his journey from being a Draper-backed investor at 19 years old to being a crypto founder in the BitcoinFi space, the role of USDB plays in social impact by promoting financial inclusion, why over-collateralization is crucial for stability in the USBD model, how USBD differs from other traditional stablecoins - and insights on how BIMA's stablecoin, the USBD, fits into the broader financial ecosystem.
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