> I also haven't paid much attention to other stablecoins, but I imagine the systems are similar, based on faith in the system, and only good as long as there's not a run on the system and more than some percentage try to get their money out.
No, that's not true. There are categories of stablecoins. There are some in the category of Luna/Terra, there are some stable in name alone, there are many that work perfectly and some of those would be able to do 100% redemptions of the entire float automatically or in a crisis of confidence.
TerraUSD was a joke. People warned of the death spiral the whole time. Its merely amusing it got that big.
No, that's not true. There are categories of stablecoins. There are some in the category of Luna/Terra, there are some stable in name alone, there are many that work perfectly and some of those would be able to do 100% redemptions of the entire float automatically or in a crisis of confidence.
TerraUSD was a joke. People warned of the death spiral the whole time. Its merely amusing it got that big.