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Is there any future for algorithmic stablecoins? -Breaking

May 20, 2022May 20, 2022 by Mike Robinson

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UST aftermath: Is there any future for algorithmic stablecoins?

Aftermath of the US Treasury Act: What is the future for algorithmic stabilitycoins?

TerraUSD (UST) a stablecoin algorithmic that has a $1.00 peg. However, it became obsolete on the 19th of May. TradeGet it for 0.083.

This isn’t supposed to happen, of course, but last week UST, along with its affiliated coin (LUNA), performed a sort of death spiral that “wiped nearly $50 billion of investor wealth in a few short days,” according to NYDIG’s May 13 newsletter.