🌐Stablecoin Types Vol. 2 — Cryptocurrency-Backed🌐 We have previously spoken about stablecoins as such, and explored how Fiat-backed stables work. Now it’s time for Vol. 2 – cryptocurrency-backed stablecoins! 🎇While the notion of backing stablecoins with crypto may seem counterintuitive – after all, isn’t the idea of stablecoins to mitigate the high volatility that crypto is so known for – it actually makes sense when you take a closer look. A cryptocurrency-backed stablecoin is highly decentralized and comes with a reserve of another cryptocurrency. The cryptocurrency in question is usually a comparatively stable one, such as Bitcoin or Ethereum. Most crypto-backed stables are overcollateralized to account for fluctuations in the market, and this overcollateralization acts as a form of stability protection designed to keep the stablecoin from depegging. Stay tuned to find out about algorithmic stablecoins in our next post!💥

🌐Stablecoin Types Vol. 2 — Cryptocurrency-Backed🌐 We have previously spoken about stablecoins as such, and explored how Fiat-backed stables work. Now it’s time for Vol. 2 – cryptocurrency-backed stablecoins! 🎇While the notion of backing stablecoins with crypto may seem counterintuitive – after all, isn’t the idea of stablecoins to mitigate the high volatility that crypto is so known for – it actually makes sense when you take a closer look. A cryptocurrency-backed stablecoin is highly decentralized and comes with a reserve of another cryptocurrency. The cryptocurrency in question is usually a comparatively stable one, such as Bitcoin or Ethereum. Most crypto-backed stables are overcollateralized to account for fluctuations in the market, and this overcollateralization acts as a form of stability protection designed to keep the stablecoin from depegging. Stay tuned to find out about algorithmic stablecoins in our next post!💥

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