Algorithmic stablecoins are gaining more and more attention in DeFi. Though examples like DAI (launched in 2017 by MakerDAO) have been around for years, the rise of FRAX, UST, and TOMB have raised the noise level around the category in recent months. No surprise that we’ve been following along closely to watch and evaluate the levers that control their stability (or inherent vulnerability, as some researchers describe it).
There is a war going on in Crypto. A war for what else? Token, Dominance, Position, Status and Attention. This is the Crux of the Curve Wars.