Decentralized finance (DeFi) lending protocol MakerDAO’s community has voted to ditch $500 million Paxos Dollar (USDP) stablecoin from its reserves, impacting half of the token’s supply. Voters ...

What’s wrong with current stablecoins? Put simply, too much profit is directed to issuers. In most cases, the yield from reserves flows back to those managing the stablecoin rather than to its users.