Interesting idea! A few thoughts:
- Should we build a stablecoin?
I would reframe this and instead ask “what gap in the market would a new stablecoin address?” The liquidity moat for USDT will make it tough to compete as an exchange trading pair, the Ethereum ecosystem support for DAI will make it tough to compete as a primary choice for DeFi DApps, and the institutional support for USDC will make it tough to compete as a regulated stablecoin. If you think there is another use-case that is underserved, this could be a good idea. If not, I think the stablecoins in the market today (or in the next 12 months) are good enough.
That said, what we DON’T have yet are baskets of stablecoins! There have been a few attempts in the last few years and a few projects currently working on this, but nobody has nailed it in neither design nor liquidity. I could imagine a synthetic cross-chain stablecoin managed by StakerDAO as a pretty unique value prop. For example, a basket of composed of Dai, Acala, and USDtz.
Ultimately, you’ll need to talk with your target users.
- If so, what network should we build it on?
If you decide to do this, For the reasons mentioned above, I think the market is too crowded on Ethereum. It’s easier to compete as a big fish in a small pond so Tezos seems like a reasonable choice here.
- Should we build a decentralized MakerDAO/Celo type of solution or centralized USDC/Tether solution?
I would reframe this and instead ask how many resources or capital do you have to commit to this? Decentralized governance, as you know, takes a ton of work, and centralized stablecoins take a ton of capital.
I think anything besides USD backed/pegged is a dead-end in my view as the global economy is inching toward dollarization. I’m not your target user here though so I could be wrong.