Nice explainer:
Matt Levine
Terra Flops
Also creditor fights and Musk Twitter
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May 11, 2022, 1:44 PM EDT
Oops
An “algorithmic stablecoin” sounds complicated, and there are a lot of people with incentives to pretend that it is complicated, but it is not. Here is how an algorithmic stablecoin works 1 :
https://www.bloomberg.com/opinion/articles/2022-05-11/terra-flops
