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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 message: On April 13 (UTC+8), Solana co-founder Toly replied to on-chain detective ZachXBT’s discussion of the USDC freezing controversy, questioning that if a stablecoin’s freezing authority does not need authorization from U.S. federal courts, then it cannot be considered a true dollar. He suggested that stablecoins adopt a layered architecture: base-layer stablecoins can only be executable frozen upon court orders; each protocol (such as Drift and Kamino) issues wrapped stablecoins on top of that, with its own freezing and unfreezing strategies, and is equipped with a dedicated security team to handle hacking incidents. (Source: Foresight News)