Stablecoins are digital assets that are referencing (pegged to) other assets, usually fiat currencies such as U.S. dollar and euro
The duo from TerraUSD and Luna were unable to maintain the dollar peg and were withdrawn from trading on the largest crypto exchanges.
The Anchor Protocol community suggested ways to stabilize Luna, the founder of Terra got in touch and supported the community.
The failed algorithmic 2020 project, Basis Cash coins, was founded by Terraform Labs employees.
“Beanstalk” — the stablecoin protocol based on the Ethereum network — lost $182 million due to a hacker attack.
