OK so my philosophy on "algorithmic stablecoins"
1) sometimes their market cap goes up, which is cool I guess
2) the whole notion of a "stablecoin" that isn't backed by something you're confident will retain most of its value makes no sense
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not really, it's a fiat backed stablecoin (with some operational difficulties sometimes sprinkled in!)
I thought they just airdropped it to Tether Share holders in the boardroom.
my bad
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