Any project that focus on decentralized stable coin is destined to doom because liquidity is the main issue of decentralization. A million or billion dollars dump on the market will instantly result to depegging and downfall of the project just like what happened to LUNA and WAVES. This 2 project suffer a huge loss when someone attack there smart contract vulnerability. It only means that full decentralized model will not gonna work in crypto if someone big wants to take you down. A partly centralized system can control to minimize this damage if this project is not idiot enough to fully trust on there smart contract without any contingency in issue like this.