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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if you want something that is always worth $1, it kinda has to be a dollar, or synthetically tied to one
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yeah I guess it kind of does lol but isn't it fun to imagine a world where somehow this wasn't the case?
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so what do you mean by "stable"?
usually people use it to mean "is $1"
but you could instead use it to mean "is always worth approx. 6-8 loaves of bread" in which case there are tons of possibilities