Tether's Paolo Ardoino on UST: 'It's All Fun and Games' Until You're a $100B Coin

UST keeps its $1 dollar value by using a smart contract-based algorithm to keep the price of UST anchored to $1 by permanently destroying LUNA tokens in order to mint create UST tokens.

As Ardoino sees it, “If you have a liquidation [with an algorithmic stablecoin of UST's size] with this market, you can still handle that. But imagine if you have a $80 [billion] or $100 billion market cap stablecoin like tether that’s [primarily] backed by digital assets. It’s really hard to predict what will happen and [know] if there will be enough liquidity to backstop that immense cascade.

Why is he even noticing UST considering USDT and USDC are so much bigger, at a market cap of $82 billion and $49 billion, respectively? Maybe because UST has been quickly gaining on the stablecoin leaders, growing 138-fold in 2021.

This is a pathetic puff piece. You're no longer a neutral publication. I hope you go out of business.

It seems tether guys cannot handle the competition.

I think holding usdt is really important in any case

I think he’s right, if the shit hits the fan and markets nuke, UST pairs are gonna be a whole new level of a shitshow. During the last crash, which wasn’t even all that bad, UST lost its peg

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Great to see new stablecoins on market. But still, I'm sure that USDT will be on the top for a long time.

I like the availability of usdt and the ability to choose a blockchain.

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..yes..because who can calculate..knows it does not add up in the end..especially since it is also nonsense philosphically.. LUNA

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