Stablecoin on BCH

Is it possible to build a DAI like mechanism on BCH?

I believe that while on boarding merchants to increase adoption is great to hear, it is not effective in its current state.

I own a restaurant and have accepted crypto for the past 4 years. I had a total of 3 customers in total, two BTC and one LTC with only a few dozen saying cool you accept crypto. It is not significant for merchants. The conclusion is...

Bitcoin is digital gold. An asset. I know the title of the white paper and it can not be taken at face value. There is a difference between money and currency and cash equivalents. Bitcoin is base money and high fees is censorship.

My proposal for those in the field is to build a protocol on top of BCH where users can mint the stable coin in their fiat currency of choice and repay/burn to return their locked BCH. This creates seemless uncensorable crossborder interaction with all merchants and customers. Central banks are racing to make their own stable coins which of course will be backed by nothing.

The goal is to lock BCH coins up and create liquidity. Drive up coin price due to increased scarcity and win back hash power.

I had to double down on my BCH bet today with it trading at 0.012, an all time low. With risk/reward at close to 100x if BTC/BCH ever reaches parity without even thinking about flipping, I see the opportunity. What a glorious rug pull it will be if it ever materializes.