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5:00Stablecoins: The Three Ways to Stay Worth a Dollar
All three promised you a steady $1. One holds Treasury bills in a vault, one locks up $1.50 of crypto for every coin, and one tried to do it with pure math. Only the math one is gone.
A stablecoin is a crypto token engineered to trade at a fixed value, almost always $1. The hard part is not issuing it, it is keeping it pegged when everyone wants out at once. There are three families, and the differences are not cosmetic, they are the difference between surviving a panic and going to zero.
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