Cardano Stable Coin and UST

Due to the recent events, when UST failed to keep it peg, the LUNA foundation sold their reserved bitcoin and make a domino on the way, make the UST fall even harder. That’s mean Algorithm StableCoin is doomed to failed.

Then can Djed escape this destiny? Because as soon as the trading volume is lower and lower, the peg to dollar will be fallen.

Hello @RedBaronSurprisingly

There was nothing algorithmic about UST. They even admitted it on their Twitter saying it was just centralized until they figure out how to build an algorithmic one.

This was basically just a guy using their Bitcoin wallet to buy back UST.

Kind of scary they even went live with out having it fully built out.

Hm… Interesting.
Thank for your reply.

Charles did twit about this

Hope we can hear from Charles soon, to get simple meaning why Djed is a right choice for the algorithm stable coin.

Yes he also made a good video as a basic intro to DJED last year. This has been in development and testing for years now and they will not release it until ready (unlike UST). Check out Charles video and you will see that DJED is nothing like UST.