Got it, DAI uses a basket of collateral, some of which is the USDC stablecoin, and USDC itself is backed by USD. I dont think that means what you think it means

Got it, DAI uses a basket of collateral, some of which is the USDC stablecoin, and USDC itself is backed by USD. I dont think that means what you think it means, even if all the USDC in DAI deposits was frozen I think there are other contingencies to keep it at $1 MIM uses the same model except the collateral choices are better, so far, as they are all interest bearing or revenue producing assets such as xSushi and liquidity pool shares. I dont think TerraUSD is inherently better. The space is littered with algorithmic stablecoins. TerraUSD has done phenomonally well, I dont think it offers anything except being on par with MIM. I would say MIM and TerraUSD as equals for different reasons, and then DAI due to having greater liquidity than MIM and simply being around longer. I think there is still a gap in the market for the perfect stablecoin. I would like a MIM with a better team and more predictable outcomes.