$DJED vs $UST, a thread 🧵⬇️

With the crash of $UST / $LUNA, unsurprisingly, much doubt has been cast on #algorithmic stablecoins. #Cardano is launching its own #stablecoin as most of us know - $DJED, which is already on testnet, but how is it different? 🤔 2/ $UST and $LUNA could be burned/minted in exchange for the other such that $UST = $USD, theoretically; one of the dangers here was that as $LUNA price dropped, more would have to be minted to maintain the peg - leading to the dreaded “death spiral"