So @diwu1989, will that protect every single Celo stable coin without discrimination for any reason?
What I’m getting at is that the balance held by any particular wallet/account/key should not be used as a criteria, period.
Discrimination against whales, dolphins, sharks, tunas, Mahi, or Salmon: in favor of minnows and sardines and such; is still discrimination and still a crime.
Again I’m going to be blunt again because having a strong product (100% trustable stable coins) is what I believe will lay the foundation for Celo’s success.
Having a life boat that essentially says to your customers:
’By the way, if something goes wrong here at Celo, we’re keeping (stealing) everything over $1000 that you have here.’ ;
is not a get out of jail free card, nor does it really engender trust or mass adoption.
If Celo want’s the trust of ‘the people’ that Celo wants to have as customers, the investors (the business/protocol side) need to take the whole hit in any failure.
No Celo stable coin holder regardless of their ‘balance’ should ever lose anything.
Would you put your fiat in any bank that made the claim ‘we’ll protect the first $1000 you put in’?
What limit would that put on that bank’s growth?