The Rise and Fall of Terra: Cryptocurrency's Paradox

This chapter explores the ambitious creation of Terra, an algorithmic stablecoin aimed at revolutionizing e-commerce in Asia. It highlights the unique challenges and regulatory battles faced by its creator, alongside the opportunities presented by high returns in the crypto market. The discussion delves into the inherent risks of algorithmic stablecoins and the fragile expectations that underpin their value, contrasting them with traditional financial systems.