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Decentralised stablecoins, such as Dai, do exist, and the price of Dai does manage to maintain its peg pretty well. Not all decentralised stablecoins have done
by smitop 4y ago
Decentralised stablecoins, such as Dai, do exist, and the price of Dai does manage to maintain its peg pretty well. Not all decentralised stablecoins have done as well (most notably TerraUSD) though, it's definitely hard to design an algorithmic stablecoin that maintains its peg.
- ALittleLight 4y agoI think that commenter means it's logically impossible. In what sense is DAI "decentralized" if its value is set by the same centralized group that sets the value of a dollar?