Chester
@chesters
#Certik #CertkQuest 🗳 Skynet Certik Quest 2024.11.15 Web3 Fundamentals: Understanding Stablecoin Reserves: https://skynet.certik.com/quest/understanding-stablecoin-reserves?referralId=17612834000122158138 ❔What backs fiat-backed stablecoins? ▫️ Fiat currency reserves ❔Why is overcollateralization used in crypto-backed stablecoins? ▫️ To hedge against the volatility of crypto assets ❔Algorithmic stablecoins rely on traditional reserves to maintain their peg. ▫️ False
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devvybear
@frankbboy
diving into web3? 🧑‍💻 check out certik's skynet quest on stablecoin reserves! 💡 learn about fiat backing, overcollateralization, and why algos don't need traditional reserves.
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