Gold-Backed Tokens: An Architectural Mandate for Monetary Sovereignty in DeFi
DeFi's foundational reliance on fiat-backed stablecoins presents a profound design flaw, tethering the ecosystem to the very vulnerabilities it seeks to transcend: inflation, censorship, and systemic fragility. HK Chen argues that gold-backed tokens offer a radical architectural transformation, establishing a non-sovereign, anti-fragile store of value as an architectural imperative for true monetary sovereignty.