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Kevin Zhou, co-founder of Galois Capital, discusses a crazy week in the world of algorithmic stablecoins that saw USDN de-peg from the dollar and Terra unveil plans to create a new liquidity pool on Curve to strengthen UST. Show highlights:\n how USDN and Waves works\n what made USD de-peg\n why Kevin thinks algorithmic stablecoins fail so often\n what Kevin thinks about backing UST with BTC\n how 4pool works in the context of Curve Finance, 3pool, UST, Frax Finance, and Redacted Cartel\n why Kevin believes Anchor is the reason UST could de-peg\n what might happen to Terra and the crypto market writ large if UST were to de-peg\n why lowering yields on Anchor could depress LUNA\u2019s price by 8x\n how UST and LUNA redemptions work\n Thank you to our sponsors!\n Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021\xa0\xa0\xa0\xa0\n Coinchange: https://coinchange.io\xa0\xa0\xa0\n OnJuno: https://onjuno.com/\xa0\n Galaxis: https://galaxis.xyz/\n Episode Links\n \xa0\n Kevin Zhou\n LinkedIn: https://www.linkedin.com/in/kevin-zhou-82938324/\xa0\n Galois Capital: https://twitter.com/Galois_Capital\xa0\n \xa0\n UST\n Proposal\n https://agora.terra.money/t/ust-goes-interchain-the-4pool-and-redacted-cartel/5648\n Why Terra would want to implement 4pool (in the context of the curve wars)\n \n https://twitter.com/CryptoHarry_/status/1510244225304117252\xa0\n \n Do Kwon on trying to make DAI less relevant\n \n https://twitter.com/stablekwon/status/1511017532764803078\xa0\n \n FXS price jump\n \n https://www.coindesk.com/markets/2022/04/04/frax-finances-fxs-jumps-as-terra-introduces-stablecoin-pool-4pool/\xa0\n \n Galois Twitter threads\n \n https://twitter.com/Galois_Capital/status/1511455703642394628\xa0\n \n https://twitter.com/Galois_Capital/status/1511198930951938049\xa0\n \n UST vs LUNA market cap risk\n \n https://twitter.com/0xHamz/status/1506372692005593090\xa0\n \n https://twitter.com/Galois_Capital/status/1511198930951938049\xa0\n \n https://twitter.com/Galois_Capital/status/1507651829366145030\xa0\n \n Why curve wars matter\n \n https://twitter.com/JackNiewold/status/1511484763630194699\xa0\n \n Terraform Labs\u2019 CEO Do Kwon\u2019s appearance on Unchained\n \nhttps://www.youtube.com/watch?v=NMRbP_b4JXM\xa0\n \n Anchor\n \n https://medium.com/@_0xfr/anchor-protocol-how-the-dev-team-rigged-liquidations-a188fb87a99f\xa0\n \n USDN\n Recap of Waves x Alameda Drama\n \nhttps://thedefiant.io/waves-ftx-ponzi-accusations/\xa0\n \n OG thread pointing out Waves market manipulation\n \n https://twitter.com/0xHamz/status/1509581295621451779\xa0\n \n https://twitter.com/0xHamz/status/1502381061925261312\xa0\n \n Waves founder blaming Alameda\n https://twitter.com/sasha35625/status/1510589983920656385\n \n Governance proposal to kill Alameda\u2019s short\n \u200b\u200bhttps://unchainedpodcast.us19.list-manage.com/track/click?u=0085a41334b3edf854fd51f9b&id=2fb7761d5b&e=3c1178619e\n\n \n \xa0\nLearn more about your ad choices. Visit megaphone.fm/adchoices