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A comment on Bitcoin could trigger financial meltdown, warns Bank of England. Parent comment
See UST from Luna as an example.
The reason I like this idea is that it encourages behavior like people arbitraging the peg and they provide a service to keep it that way.
Here is a post mortem on the big crash back in the beginning of the summer and how it affected the UST algo stable coin.
https://medium.com/@terra-bites/luna-black-swan-do-kwon-ama-...
To me this was quite confidence inspiring, that even while the peg came off more than other stables it snapped right back.
See UST from Luna as an example.
The reason I like this idea is that it encourages behavior like people arbitraging the peg and they provide a service to keep it that way.
Here is a post mortem on the big crash back in the beginning of the summer and how it affected the UST algo stable coin.
https://medium.com/@terra-bites/luna-black-swan-do-kwon-ama-...
To me this was quite confidence inspiring, that even while the peg came off more than other stables it snapped right back.