RE: Steemit Crypto Academy Contest / S8W2 - What are Stablecoins?
Hey buddy @badmus-official,
While scrolling through steemit and reading interesting post, I couldn't pass by yours without appreciating the hardwork you have put into place to ensure that you delivered this interesting and informative posts.
I particularly appreciate your approach to the first question, you made us to understand why a stable coin is called a stable coin.
It was gotten from the word stable which distinguishes it from other coins like steem and TRX.
I also agree with the answer you gave to the fourth question, yes, a stable coin can loose its stability.
The example you gave to yours is similar to the example i gave, the fall if Terra Luna.
I actually feel pity for those that suffered great loses.
Overall, you have given your best to this contest and I wish you all the best 😊😊
I'm stunned by those words bro, you got me all smiling in a funny way, well, you've been a top content creator as well on the platform, well respect you for that.
The Fall of Luna kind of exposed people to the thought that stablecoins are not totally safe, anything can happen, algorithms might fail or supply could lose value, it's indeed a terrific year, but I hope everyone moved on to a new phase of the market.
Yeah, I agree with you, algorithm can fail, we are to expect anything in the crypto space.
Thank you again 😊