Stable coins that eat the world will be 100% or more backed with USDTbills, USD reserves, and repo on USD Govies They are senior secured, designed to never break the buck, and fully backed. Oh they are on chain too. $MSTR $STRC is junior, entirely unsecured, with a "trust me" rule to protect the buck with a dividend that can be deffered in perpetuity. Oh also can't be levered much and is NOT on chain