> You can easily put stablecoins in a Lulo savings account and get 5% interest instead of 0.1% or whatever your bank provides. Yes Lulo has insurance.

From Lulo's site[1]: "Lulo’s yield comes from interest paid by traders and borrowers in integrated DeFi protocols. These loans are over-collateralized with assets like SOL, ETH, and BTC, reducing lender risk."

SOL, ETH and BTC as collateral? What if their value goes down? We know what happened when the banks made bad housing loans (2008 sub-prime mortgage crisis). At least the houses had some tangible value - bricks and mortars. Crypto seems like a fiat currency minus the "full faith and credit of the United States government".

> 1234.56 in PyUSD means you get 1234.56 in Chase or Wells Fargo or whatever. In future your bank will hold these assets directly without need to off-ramp at all.

If the appeal of PyUSD is that you can convert it into equivalent USD anytime, why do we need PyUSD at all? What's the value-add, apart from low transfer fees?

[1] https://lulo.fi