DAI has been around since 2017, which no algo stablecoins has ever matched, and it’s unlikely to share the fate of UST.
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Was Terra’s UST cataclysm the canary in the algorithmic stablecoin coal mine?
After an earthquake, there are always aftershocks. The collapse of UST could be a sign that other stablecoins are also critically flawed.
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MakerDAO price rebounds as DAI holds its peg and investors search for stablecoin security
MakerDAO returned to prominence after Terra’s UST collapse forced investors to search for a truly “stable” dollar pegged asset.
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Circle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Treasuries
On May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of Terra’s stablecoin implosion.
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Stablecoin Shuffle — Terra Fiasco Shakes up Fiat-Pegged Crypto Economy, Over $35 Billion Disappears
According to statistics on Friday, May 13, the top stablecoins by market capitalization are currently worth $163.7 billion after the stablecoin economy was valued at
Read moreHow Dai Stablecoin works
DAI is an ERC-20 token and an Ethereum-based stablecoin whose price is kept in check through a system of smart contracts. Continue reading on Medium
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