DeFi Evangelists Still Bullish, Despite Terra Meltdown
DeFi proponents continue to champion algorithmic stablecoins, despite Terra’s recent collapse and general apprehension around stablecoins. Following the crash of the stablecoin Terra (UST), supporters of DeFi, specifically algorithmic stablecoins.Algorithmic stablecoins, on the other hand, rely on a mix of smart contracts and computer code to maintain their peg to a fiat currency.
“An algo stable will exist in the next five to seven years,” says Hassan Bassiri, who works for Arca, a backer of Terra.Algorithmic stablecoins are a subset of stablecoins, or special digital assets pegged to some fiat currency. To maintain their peg to fiat, stablecoin issuers typically hold funds capable of satisfying large-scale withdrawals from holders wishing to redeem their coins for cash.
Source
https://t.me/Crypto_Futures_Trading
