Quick shout out to @LiquityProtocol, possibly the most undervalued & underrated tool in all of DeFi.
Quietly handling this price crash like a champ.
On its way to being battle-tested while remaining immutable & trustless..
And still only on v1!
The most resilient stablecoin design requires overcollateralization with the most trustless asset on a given blockchain - its native currency.
We already have $LUSD on Ethereum that works exactly this way. I wish it could get more adoption.