Uh Fracks

fracks is backed over 92% by literally hard assets over collateralized loans kind of like maker other uh stable coins and things like that. Some of it is algorithmic right which is basically that part of the supply that's basically stabilized with fxs but it's very small, he says. The whole point of fracks is that you can't start a stable coin or currency that has no exogenous collateral according to him. "I think people kind of wrongly assumed that because terra imploded or something um that any kind of design that's not either a fiat coin or entirely over collateralized will like never work"

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