Yeah, as someone who didn't know about Luna or Terra a week ago I think he did a good job of explaining the system, and the way it would fail, pretty well 2 days ago on Wednesday:
You can read down through where he details the Death Spiral. I also haven't paid much attention to other stablecoins, but I imagine the systems are similar, based on faith in the system, and only good as long as there's not a run on the system and more than some percentage try to get their money out.
https://www.bloomberg.com/opinion/articles/2022-05-11/terra-...
You can read down through where he details the Death Spiral. I also haven't paid much attention to other stablecoins, but I imagine the systems are similar, based on faith in the system, and only good as long as there's not a run on the system and more than some percentage try to get their money out.