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
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
I don't agree with you a little bit. The fact is that centralized stablecoins also lose their tether, but for some reason they don't talk about it much. But when it comes to algorithmic or decentralized stablecoins, people immediately remember their ability to lose tethering. All stablecoins lose their tether. Look at how the biggest stablecoins have felling in their time, and you will see that all stablecoins are at risk of losing their tether.