Is it over? Is this the future? Sadly, the answer, is no. The catastrophic fallout of the UST collapse continues as Voyager, Celsius, BlockFi, 3AC and SBF dominated headlines once again last week. All the latest from this opera of rektitude.
“Dai is a stablecoin implemented as an ERC20 token on the Ethereum blockchain. Designed to maintain 1:1 parity with the US Dollar its value is backed by collateral which is locked up in a smart contract, the Maker collateral vault.”
Ethereum inventor Vitalik Buterin said that algorithmic stablecoins should be scrutinized according to how they fare under extreme market conditions, and whether they can safely wind down when hype falls away. Despite the recent collapse of UST and LUNA, which knocked UST from its $1 peg and wiped billions from the market, Buterin argued in…
After UST’s fall, we are starting to see a shift in preference between stablecoins. In this video we take a look into where the big players are allocating their capital.