cannon VS curve-stablecoin

It's important to note however that OP still doesn't have 'fraud proofs' (for that we're waiting for 'Cannon': https://github.com/ethereum-optimism/cannon) or an 'escape hatch' (that would allow users to recover funds if the L2 validators stop functioning). Risk management is vital in this game so it seems essential to highlight these absences.

In the meantime, Arbitrum One is still not in its final form, it'll be upgraded to Arbitrum Nitro which is basically a rewrite of some large components. Optimism has fraud proofs disabled while they are rewriting them (their interactive on-chain fraud prover still appears to be in heavy development). Both have training wheels / guardrails and are currently centralized (i.e. you can't run a sequencer yourself).

Or even better https://github.com/geohot/cannon

Oh boy... so that's a deep Rabbit Hole. The Curve stable is somewhere between DAI and FRAX with the primary innovation being a new continuous liquidation system. I read the whitepaper several times and I still got things wrong about my understanding compared to what is in prod now. Originally I thought existing Curve LP tokens were going to be the collateral, but instead it's a unique market with crvUSD and one volatile token at a time. Then there's the Peg Keeper which I have not seen a good explainer of yet but basically it acts like a Frax AMO. I've commented on it a few times if you dig into my post history. I think it's a biggest thing since DAI honestly. Otherwise you have to dig deep into some tweet threads from the Curve Finance newsletter to get your head around it. Here's the docs. but I haven't found them very helpful.

It's worth giving this a read: https://github.com/curvefi/curve-stablecoin/blob/master/doc/curve-stablecoin.pdf

Curve stable coin is out