Quote:
Originally Posted by PsYcNeT
Algorithmic stablecoins are garbage.
Tether has been known to be garbage as well for well over a year. Being backed by US Bonds and Chinese Commercial Debt isn't a winning formula.
USDC, DAI, miMATIC and BUSD (hilariously enough) are the most safe stables and are actually backed by real fiat.
DEI (not DAI) will be the next stable to collapse.
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How do you know they are backed?