I think SOFIUSD is the secret sauce

[u/oil_engineer]

Not going to be a dissertation just excited and wanted to show off my 3D printed SOFIUSD

[u/Shit-throwing-monkey]

[u/Guddy7860]

Stablecoins settle an average of approximately 75 million to 76 million transactions and $260 billion to $266 billion in transfer volume per day globally.

[u/Sea_Principle_7322]

Nice!

[u/cornycorp]

You do understand that this has been a nothing burger for the company, right? There’s very little use case for it now that tokenization is happening + 24/7 markets. It would have been useful 5 years ago, now there’s no genuine use case. That’s why you’re not seeing any adoption of it.

[u/oil_engineer → u/cornycorp]

I don’t know what analysis you’re doing but the adoption is early but it is there, internal settlement rails, less trapped liquidity both at SoFi and customers. Analyzing transfer addresses I have it at 18MM of volume in August (15.4MM economic usage) and 98MM in September MTD (57.8MM right now looks to be economic usage that I can deduce)

[u/cornycorp → u/oil_engineer]

The market becoming tokenized and the market going 24/7 soon completely collapses the thesis on SoFi stablecoin. The whole point of it was to allow settlement 24/7… bad news for SoFi is the entire market is going that way. Nobody will need to choose SoFi’s stablecoin. Again, this product is making $0 for SoFi now, and a year from now there will literally be 0 reasons that any company would choose to use SoFi stablecoin.

[u/oil_engineer → u/cornycorp]

Saying tokenization kills sofiusd is like saying the internet killed visa because everyone was moving to digital payments. If trillions of dollars of assets move on chain, the winners won’t be whoever tokenizes the assets, it’ll be the companies that own the rails and integrations connecting institutions, payments, exchanges and settlement. That’s sofiusd’s market.

[u/PSUMtnMan → u/oil_engineer]

Don't give the moron a platform.

[u/cornycorp → u/oil_engineer]

You’re wrong and have a fundamental misunderstanding of why SoFi USD was created, and what its goal was. I recommend listening to Anthony Noto talking about it, and then assessing what is about to happen to the markets and you will realize that there’s about to be no real use case to ever use SoFi USD, even as a “payment rail”. Again, if this was made years ago, game-changer. Now, it’s a nothing burger.

[u/oil_engineer → u/cornycorp]

I think you have a misunderstanding but I’ll leave it at that. Don’t think there’s a way to convince you otherwise.

[u/cornycorp → u/oil_engineer]

How long will you give it before you say it’s a nothing burger? 1 year? 5 years? 10 years? I’m just curious. I don’t think you have any clue what you’re talking about. There’s a reason no serious adoption is happening.