Expanding PoX and PoB to Tether?

#1

Omni is a layer on Bitcoin, and Tether (original version) is working on Omni.
I am wondering that it is technically possible to use Tether(Omni version) for PoX and PoB of Stacks instead of BTC. Using stablecoin for mining is more direct conversion of fiat resources to crypto networks.

If not possible, is it possible for PBC to create and operate Tether-like stablecoins and use them for PoX?

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#2

Tether’s and other stable-coins’ primary use-case I think is to be used in commerce (buying/selling) essentially like digital cash, where the participants don’t want a money with volatility - who’s value fluctuates. The objective of PoX rewards is to provide incentives for participation in Stacking consensus.
An asset like BTC which has high liquidity and (long-term) goes up in value makes for a much better incentive. So even if it was possible, it probably would be a bad idea to use stable-coins for PoX.
Creating tether-like stablecoins and non-fungible tokens on the Stacks blockchain using the Clarity smart-contract language may be possible, and used on the Stacks blockchain for other use-cases than PoX.

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#3

It can be also said that miners(validators) don’t want to spend BTC which can provide better future value. They may like stable income as well. But economically, these two types of PoX become similar impacts.

I compare PoX to an ICO auction with a certain time window. Miners pay BTC and buy STX. So they can buy STX with USD as well.

Anyways, good to know it may be possible and thanks for your reply.

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#4

Point taken about BTC being a more desirable asset with a lower incentive to spend/trade. But BTC, as of today, has by far the most liquidity which is important. Maybe in the future this can change, when a big stable-coin or gov-coin takes over the digital cash use case. Also, I can see the ease at which bitcoin miners could also mine STX since it requires little additional hardware. But would they want to convert some small % of their mined BTC into STX? dunno.

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