@madlaboratoor
Laboratoor’s Journal Entry #1📔
Recently I find myself deeply pondering the realm of stablecoins. That is, of course, a natural destination for one’s mind to wander during a bear market.
I’ll take for example the beloved Ethena USDe—a synthetic yield-bearing dollar, born from the alchemy of perpetual funding and delta-neutral hedging. This battle-tested behemoth sits atop a treasure trove of over $6 billion in TVL, solidifying itself as a decentralized stablecoin paragon.
Yet, my inquisitive mind cannot help but conjure the darker scenarios:
- What if USDe were to depeg?
- What if the value of Ethereum, the lifeblood collateral of Ethena, continues its downward spiral?
- And, most terrifying of all, what if USDe succumbs to the same fate as the Terra/Luna algorithmic stablecoin?
I admit I fear much less of these thoughts, however, since I stumbled upon the innovation of Level USD (lvlUSD).
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