they aren’t, but we can’t have everything.
True RWAs with Chainlink proof-of-reserves are still theory on Ethereum; any working solution is using a proxy LLC that pinky-promises the existence the tokenized assets. Add leadership scepticism when it comes to programmability at the L1 and you got 10 to 20 years until there’ll be a truly endogenous RWA/ZEC-backed stablecoin. Without even going into details of how liquidations should work without smart contracts, liquid AMMs, liquidator liveness guarantees,… it’s just not something that is realistically possible with zcash’s current trajectory.
2 Likes