Following the collapse of Terra and its native algorithmic stablecoin UST, people are very skeptical of the viability of algorithmic stablecoins. Near Protocol has been gearing up to launch its own algorithmic stablecoin $USN. Will USN open Near to the same death spiral risk that existed with Terra, or is the design of USN different such that that is not possible? We discuss the differences between UST and USN to answer that question.
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