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Solana Co-founder Toly: If a stablecoin is frozen without court approval, it is not truly a US dollar.
ME News Report, April 13 (UTC+8), Solana co-founder Toly responded to on-chain detective ZachXBT’s discussion about the USDC freezing controversy, questioning whether a stablecoin’s freezing rights that do not require approval from a U.S. federal court can truly be considered as real U.S. dollars. He proposed a layered architecture for stablecoins: the base layer stablecoin can only be frozen under a court order; protocols (such as Drift, Kamino) issue wrapped stablecoins with their own freezing and unfreezing strategies on top of this, and are equipped with dedicated security teams responsible for handling hacking incidents. (Source: Foresight News)