It's the impossible trilemma - you can't have * a fixed foreign exchange rate * free capital movement (absence of capital controls) * an independent monetary

It's the impossible trilemma - you can't have * a fixed foreign exchange rate * free capital movement (absence of capital controls) * an independent monetary policy As a stablecoin, they claimed to have * A fixed exchange rate with the dollar * Generally free movement in and out (except for the 21-day redemption period, etc.) * an interest rate untethered to risk-free rates you could get on USD so it was impossible for it to work.