Overview The design of the stablecoin has few concepts: lending-liquidating amm algorithm (LLAMMA), PegKeeper, Monetary Policy are the most important ones. But the main idea is in LLAMMA: replacing liquidations with a special-purpose AMM. 这个稳定币的设计中有几个概念是最重要的：借贷-清算AMM算法（LLAMMA），PegKeeper（稳定保持机制），货币政策。但主要的设计点是在LLAMMA：用一个特殊用途的AMM代替传统超额抵押借贷的清算流程。 Figure 2: Dependence of the loss on the price shift relative to the liquidation threshold. Time window for the observation is 3 days图2：损失对相对于清算阈值的价格变动的依...