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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, April 13 (UTC+8): Solana co-founder Toly replied to on-chain detective ZachXBT’s discussion regarding the USDC freezing controversy, questioning whether a stablecoin whose freezing authority does not require authorization from U.S. federal courts can truly be considered “real” U.S. dollars. He suggested that stablecoins adopt a layered architecture: base-layer stablecoins can only be frozen under court orders; each protocol (such as Drift and Kamino) issues wrapped stablecoins on top of this layer, with its own freezing and unfreezing strategies, and assigns a dedicated security team to handle hacking incidents. (Source: Foresight News)