Iron Finance

Various types of stable coins exist in the market; the fiat collateralized, which is not 100% decentralized, e.g., USDT, crypto collateralized like DAI, which has an over-collateralization issue. There are also, purely algorithmic protocols such as Basis, BDO, ESD, and DSD. These leverage seigniorage to establish a stable coin with no backed assets. With no collateral these face issues due to their inability to react to volatility that can result in algo-stable coins ending up in the dead zone.

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