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Solana Co-founder Toly: If a stablecoin is frozen without court approval, 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 that if the freezing rights of stablecoins do not require authorization from U.S. federal courts, they cannot be considered true dollars. He suggested that stablecoins adopt a layered architecture: 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, and are equipped with dedicated security teams responsible for handling hacking incidents. (Source: Foresight News)