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Solana Co-founder Toly: If a stablecoin is frozen without court authorization, 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 U.S. federal courts 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 court orders; protocols (such as Drift, Kamino) issue wrapped stablecoins on top of this with their own freezing and unfreezing strategies, equipped with dedicated security teams responsible for handling hacking incidents. (Source: Foresight News)