Quote from: hatshepsut93 on June 06, 2022, 11:11:08 PM

Algorithmic stablecoins don't fail because they are trying to get linked to USD, they fail because their algorithms are flawed and can be abused. Is it possible to invent a perfect algorithm that can't be hacked? We don't know, so far no one studied the theory behind it, the shitcoin creators are building things because they can and they get rich in the process, regardless of the outcome.

Algorithmic stablecoins fail precisely because they try to bind to the US dollar. They will always fail, not because their algorithms are imperfect, but because decentralized finance cannot be measured.
Using a centralized method, try to measure how much 1 bitcoin weighs in kilograms.
Decentralized finance is parallel to centralized, they do not have a common point of contact. They can only intersect, transform into each other.
To introduce a Fiat monetary system into a decentralized economy with the help of artificial stablecoins is absurd. The very principle of a decentralized economy is based on its openness and stability. An open source cryptocurrency is transparent and predictable, it can stabilize itself and even manage the Fiat economy.