NYDIG Paper Claims Algorithmic Stablecoins Are Impossible And DeFi Too Risky

In “On Impossible Things Before Breakfast,” NYDIG uses the Terra/ LUNA collapse as a case study. The paper aims to prove that the algorithmic stablecoin concept is flawed in nature. It also takes aim at the current state of the DeFi stack and shows how fragile it is. The subtitle says it all, “a post-mortem […]