> So far all algorithmically backed stablecoins have failed. Remember Terra Luna.
So that's a sample size of 2, and from those 2, 1 has failed. Not exactly "all"
So that's a sample size of 2, and from those 2, 1 has failed. Not exactly "all"
Zero. Nada. There was always somebody somewhere exploiting it.
TerraUSD USN USDN Basic Cash
All failures so far, every time a death spiral.
FRAX started as algorithmic and had to move to over collateralization
Same with DAI
You really can’t call them like that once they become backed by USDC
> all algorithmically backed stablecoins have failed
Your motte:
> no undercollateralized, algorithmically backed $1 stablecoin has sustained a reliable peg at scale over multiple years