How Did UST Collapse? | Jordi Alexander & Mika Honkasalo
Empire
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The Scale of Decentralized Stables
Fex is semi collateralized. It's collateralized to a certain extent, and then it allows itself to get less collateralized as its value kind of grows. I think this was the sort of seminal moment that will go down in in like, the enal cryptol history, at the point at which we stopped really believing that something that's not collateralized work. The scale of these things is absolutely massive. And i don't think people out there even realize the kind of, like, huge ripple wave that is going through the crypto market. A lot of those people would use an ap that s like, you know, you can get 20 %, this is like a stable coin
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