I agree, we should reduce our exposure to centralized stablecoins. There’s nothing wrong with stablecoins in general (although it should be noted that too much exposure to any one stablecoin, centralized or no, may be unhealthy).
While we wait for RWA to become a thing, and since new crypto collateral seems to be a little slow to onboard at the moment, we should look at what we can start doing right now to start influencing our exposure to these assets.
I’ve been saying that we need to try to make other assets more attractive to borrow against. Lower LR, lower RP, higher DC. I can’t guarantee that this would work; I can say that if I had a pile of wealth, and I was considering putting some of it in a vault and borrowing against it (probably to do some yield farming), I wouldn’t necessarily care exactly which asset I was borrowing against, so long as it gave me the best of those three things.
What I’m saying is that I think yield farmers don’t necessarily care what they’re putting into their vault; I think they care about how much Dai they can get out of it, and how much it costs them; exactly how much leverage they can get. Should we form a strategy around yield farming? I don’t know. It seems to be a booming sector right now, so I think it’s not a bad idea to move in that direction.