Regenerative Stablecoins: When “Stable” Also Means Net‑Positive

In Day 17, we broke stablecoins into three big buckets: fiat‑backed, over‑collateralized crypto, and algorithmic. Check it out here . Since then, a fourth pattern has kept showing up in comments and DMs: regenerative / impact‑backed stablecoins . These still behave like “on‑chain dollars” for users, but they’re collateralized by real‑world assets (RWAs) tied to things like carbon credits, green bonds, and renewable energy. AZUSD from Azos is one of the clearest examples of this idea actually running, not just living in a whitepaper. Today’s note on Day 42 is less “here’s the final answer” and more “here’s how I’m starting to file these in my mental model of stablecoins, RWAs, and ReFi.” Quick rewind: the three buckets from Day 17 Very quick refresher of the mental model from Day 17: Fiat‑backed – the bank vault Tokens like USDC/USDT aim for 1:1 backing with cash, treasuries, and money‑market instruments in traditional accounts. You’re trusting an issuer, their banks, and their attestat