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![jakob_btc Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1505700284730904581.png) jakob.btc [@jakob_btc](/creator/twitter/jakob_btc) on x 2318 followers
Created: 2025-07-08 13:15:02 UTC

An unpopular opinion I have is that debt-based stables are unlikely to work long-term.

I mean stables where you lock BTC as collateral to mint (borrow) a USD-pegged coin. The model fails even when users act rationally.

The reason is simple; they have no "sink." 🧵

![](https://pbs.twimg.com/media/GvVn-iPa8AApXP0.jpg)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1942573140967842095/c:line.svg)

**Related Topics**
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[Post Link](https://x.com/jakob_btc/status/1942573140967842095)