Quote from: batang_bitcoin on May 11, 2022, 06:55:15 PM

There's a complete manipulation that has happened to the current hot stable coin in the market, UST. It's no longer pegged to a dollar and many have lost a lot of money on it because of anchor/staking. DAI is still the best option if you're going to put your profits in a stable coin because it's a lowkey stablecoin and what matters most is that it is decentralized. I won't mention any other stable coin because you will really never know if the same thing can happen to them.

With what happened with UST lately, I'd steer clear from decentralized stablecoins as much as possible. Their inability to remain "pegged" to the USD, greatly defeats their purpose. Unless developers and the community improve the algorithms supporting the peg, people will continue to use centralized stablecoins like USDT and USDC to protect themselves from market volatility. So far, it seems that DAI is the best decentralized stablecoin in the world. But it's not immune from losing its peg sometime in the future.

At least, we have a wide variety of decentralized stablecoins to choose from. Ultimately, crypto's all about utility. As long as it works as intended, nothing else matters. Just my thoughts Grin