For long, decentralized stablecoins have claimed to maintain their peg backed by either collaterized assets or algorithms. It's this point in time where a so-called decentralized stablecoin named "TerraUSD" lost its peg with no point for recovery within the short term. This is not the first time a decentralized stablecoin loses its peg, as a similar situation happened with NuBits (USNBT) some time ago. Even now, another decentralized stablecoin called "Neutrino USD" (USDN) lost it's 1:1 peg with the US Dollar.
With failed promises to maintain stability, does this means decentralized stablecoins are a failed experiment? If not, why? Do you think there's still room for improvement? Your input will be greatly appreciated. Thank you very much.
i am agree stable coins now failed to pegged to $1 no matter their algoritm or mechanisme to set it stable $1. i am believe there is no real collateral from stable coins project, they just use an algorithm which is could not work while we see unexpected market movement . we see from several project build stable coin, most of them totaly failed.even usdt many time under $1. this is early warning to becarefull with this project to avoid same accident with luna or ust.With failed promises to maintain stability, does this means decentralized stablecoins are a failed experiment? If not, why? Do you think there's still room for improvement? Your input will be greatly appreciated. Thank you very much.