There is needed for categorization of stablecoins, where, to be clear, there are generally three varieties of stablecoin: 1. Centralized fiat collateralized (USDT, USDC), 2. Crypto collateralized (DAI, sUSD) and 3. Algorithmic stablecoins (UST, IRON, USDD). Amongst the asset-backed stablecoins, Tether USDT is the biggest, followed by USDC. However, the algorithmic stablecoins, those are the ones that are blowing up,…
On Twitter, Terraform Labs made the announcement that the validators of the Terra blockchain had come to the consensus that it was important to halt the Terra blockchain in order to “avoid governance attacks” in the wake of “severe [luna] inflation.” The action comes after the value of Terra’s luna coin plummeted, dropping to less than a cent on Thursday…
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