# Thesis: Range of stablecoins needed for DeFi ***tldr;*** Risk off assets are essential for any well functioning DeFi system. Arbitragers need non correlated assets to function and transactions are still better demoninated in fiat currencies ## Questions * How are we tracking this? * Growth of stable coins market cap across time [https://messari.io/chart/stablecoin-growth-59F45A1B], [https://dune.xyz/hagaetc/stablecoins], [https://www.coingecko.com/en/stablecoins] * Should we try to model where value will end up. * It's different for each stable coin so a card specific tokenomics is fine * How big an opportunity is this? * 100s of Billions * Timeframe around this thesis? * Months, adoption in DeFi is very fast * How will regulation effect this? * Latest US regulation is `Warner noted to reporters that this was likely the final list of exemptions, which leaves software developers and decentralized platforms exposed to the new statute, should it pass.` [https://www.wsj.com/articles/cryptocurrency-compromise-emerges-for-infrastructure-bill-11628185806] *