The main harm of existing “Stablecoins” is not controlled emission, but, accordingly, inflation.
Today, anyone can create a demon of control-print their “Stablecoins” thereby increasing the total issue of the financial bubble, what do you think?
yes I agree with you,
they are easily printed without any backed. and the result is a crash when things get out of hand.
Listen to this fact, there are no assets or commodities thats stable in price, and the world stable coin used was just to categorize as an asset that will limit your investment lost to the crypto market downtrend.
StableCoin being backed is not what prevents it from crashing.
this is what is happening now to UST, the price is falling because there is no backed to recover the price. the UST team only uses Luna as a workaround, which this solution makes it even worse. the price of luna fell as a result because it continued to be printed to cover the shortage of UST.
According to the news I read, Luna experienced a dump in price due to some attacks on their platform but the project was backed with Bitcoin.