just fyi, LUSD is not backed algorothmically. It is backed by over-collateralized debt positions of Ethereum. The novel thing about Liquity vs something like SAI(the old DAI that was backed purely by Eth) is that they allow down to 110% collateral rather than 150%. This is thanks to their efficient liquidation mechanism.
Check out LUSD by Liquity. It's a stablecoin backed purely algorithmically by ETH only. It's the best stablecoin out there imo.
just fyi, LUSD is not backed algorothmically. It is backed by over-collateralized debt positions of Ethereum. The novel thing about Liquity vs something like SAI(the old DAI that was backed purely by Eth) is that they allow down to 110% collateral rather than 150%. This is thanks to their efficient liquidation mechanism.