Shared agreement is not quite enough, that’s why algorithmic stablecoins fail. You can say that’s due to lack of agreement but it all comes down to incentives.

Shared agreement is not quite enough, that’s why algorithmic stablecoins fail. You can say that’s due to lack of agreement but it all comes down to incentives. The only reason stablecoins work is because they have a mechanism where you can quickly 1. mint a new coin and sell it for slightly more than $1 for it 2. buy a coin for less than $1 and redeem it for $1 in value