Tuesday, May 10, 2022

A look at Do Kwon's algorithmic UST stablecoin, designed to trade at $1, after it fell as low as $0.60; CoinMarketCap says there are 18.5B UST in circulation (Stacy-Marie Ishmael/Bloomberg)

Stacy-Marie Ishmael / Bloomberg:
A look at Do Kwon's algorithmic UST stablecoin, designed to trade at $1, after it fell as low as $0.60; CoinMarketCap says there are 18.5B UST in circulation  —  Algorithmic stablecoins, like their more “traditional” counterparts, are supposed to provide calm in the chaos of crypto.



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