In the past, the crypto market has faced failures in the algorithmic stablecoins, the mechanism behind the stablecoins seems to be prominent in papers. Still, when it comes to executing them in the real-world, the hurdles are more challenging. Some examples to be remembered are Titan and Iron. The fundamental
Terra ecosystem is in halt from delegation at block height 7607789. The current price is $0.06853 which is 94% lower than ATH. Terra’s stablecoin UST attained it’s All Time Low (ATL) on May 13, the price was $0.04495199, as per CoinGecko. The stablecoin remains de-pegged from May 9th and has
Segregation between centralized stablecoin and algorithm stablecoin. Stablecoins become harder to manage as they grow larger. Paolo Ardoino, CTO of Tether and Bitfinex, participated in a podcast by Reimagine, Web3 events & Media company,on May 17th, where he made few comments about stablecoins. Especially about Terra UST, the initiation behind
$750 million BTC was used for restoring peg value by lending to OTC trading firms. 28,205 BTC was transferred to an unknown account on Binance Exchange. Luna Foundation Guard, the firm of Terra, has been stacking BTC in reserve for emergency rescue. The ultimate goal of Do Kwon, Co-founder of
