Famous crypto flops, each fed to Kasspian with the name stripped, 2 of them, averaging 2.0/10. Below: the score, the verdict, and the assumption that killed each one.
They called it a stablecoin. It was a confidence game with a yield bolted on.
Fatal flawThat a $1 peg can be held by arbitrage against a volatile sister token, and that a fixed 19.5% yield paid out of a finite reserve is a growth engine rather than a countdown timer.
They backed billions in customer money with a coin they printed themselves.
Fatal flawThat a token the company prints itself can be counted as real collateral backing real customer deposits.
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