#Certik #CertkQuest

🗳 Skynet Certik Quest 2024.12.05
Web3 Fundamentals: Stablecoin Risks: Identifying and Mitigating Vulnerabilities (https://skynet.certik.com/quest/stablecoin-risks-identifying-and-mitigating-vulnerabilities?referralId=4992615323810605070)

❔What is a common risk with fiat-backed stablecoins like USDT or USDC?
▫️ Dependency on centralized custodians

❔What caused the TerraUSD collapse?
▫️ A failure in its algorithmic stabilization system

❔What is one way to reduce risks when using stablecoins?
▫️ Diversify across multiple stablecoins with transparent audits