A month into the UST crash, Ethereum co-founder Vitalik Buterin shared a thought experiment on a question that was on everybody’s lips. How could a user evaluate whether an algorithmic stablecoin was actually stable or not? He postulated that an algo stable could be considered safe based on how it navigated both the steady states and the extreme conditions in the market. More specifically, could the stablecoin wind down safely if future activity drops to near-zero? The crypto space, he wrote,...