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RE: HBD Defenses: How HBD Is Different From UST

in LeoFinance2 years ago

Nice. Helped solidify some of my understanding. One of the only good things about this death spiral for LUNA is maybe other algo stablecoins will look and learn (HBD especially). I feel we are already ahead of where they were and more prudent in general.

However, any algorithmic stablecoin has a majority of it's risked baked in by the fact that it is an algorithmic stablecoin :-)

Designing algorithms for any eventuality is near impossible, especially when you involve greedy humans who are extremely creative in finding ways to make some money. No one can design a foolproof safe, but you can design one that is so hard to crack that most safecrackers give up :-) Then you only have to worry about the genius, obsessed safecracker and track that person like a hawk.

Bad analogies aside HBD can and should use this as an opportunity to reassess and shore up defenses.

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No different than most other things. In the end, it all comes down to use case.

While financialization is often focused upon, the ones that will stand up are going to be those that have enormous use cases.

After all Soros brought the British Pound to its knees too.

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