Tks for pointing that, Pavel! Good to see the recommendation Basel Committee. I think that calculating the Expected Shortfall makes sense. I updated the models here only to change from VaR to Expected Shortfall (considering a 97.5% confidence level following Basel Committee guidelines:
Just to clarify to others, Expected Shortfall (also called Conditional Value at Risk) is the average of the “extreme” losses in the tail of the distribution of possible returns. It is how much you could expect to lose in the nine worst days of the year.
For sure, it is difficult to have a more objective analysis about trust and we will depend on how community see this. I think there are two main aspects regarding USDC, decentralization and regulatory risk. FEI is a decentralized stable coin and investing in a centralized stable coin would go against this importante value. Also, as a stablecoin, we can expect more strict regulation in the near future, so regulatory risk from government decisions will be even higher. USDC is under US jurisdiction, that in the last years was not very favorable to crypto. Many projects had difficulties in accessing US investors. I think US govt will embrace existing stablecoins in the future, but it could come with a heavy regulatory burden.
Considered them together. First calculated the score based in the number of holders then adjusted by the subjective analysis of trust.