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Difference between revisions of "Stablecoin"
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→See More: added Defillama´s stablecoin dashboard
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For example the UST stablecoin issued on the Terra blockchain is always redeemable for 1 USD worth of LUNA tokens and LUNA is burnable to mint an amount of UST equal to the USD worth of LUNA burned. | For example the UST stablecoin issued on the Terra blockchain is always redeemable for 1 USD worth of LUNA tokens and LUNA is burnable to mint an amount of UST equal to the USD worth of LUNA burned. | ||
Since the peg is mainteined through arbitrage and not through backing these stablecoins are more volatile and more subject to depeg events than other types described above. | Since the peg is mainteined through arbitrage and not through backing these stablecoins are more volatile and more subject to depeg events than other types described above. | ||
Several DeFi protocols have issued their algorithmic stablecoin and many have failed (see the Iron Finance crash<ref>https://rekt.news/iron-finance-rekt/</ref> for example) and many are still used today (like UST or USDN). | |||
== See More == | |||
* [https://t.me/stablecoinprinter Stablecoin Printer] is a Telegram Bot that sends alerts when top stables are printing. You can find them on twitter [https://twitter.com/usdcoinprinter @usdcoinprinter] | |||
* [[0xngmi]] had a good Twitter thread on Stablecoins you can read [https://twitter.com/0xngmi/status/1458979985830531073 here] | |||
* [https://defillama.com/peggedassets/stablecoins Defillama´s stablecoin dashboard] - Per-chain breakdowns of stablecoin dominance for 53 chains. Counts the stablecoins bridged through multiple bridges and the ones issued on the chain (eg: USDC.e, USDC, multichain USDC...) | |||
== Sources == | |||
<references /> | |||
[[Category:Stablecoin]] | |||