Stablecoins Landscape

A hopefully comprehensive guide to the stablecoin landscape

Stablecoins algorithmic or otherwise generally fit into a few categories as detailed in Anthony Zhangs blog Stablecoin Central Banking.

Type	Advantage	Disadvantage
Fully Backed	1:1 Redementions	Centralized, Regulatory Risk
Overcollateralized	Full Redemntions, Decentralized	Capital Inefficient
Undercollateralized or Algorithmic	Captial Efficent, Decentralized	Depeg Risk

Projects

Fully Backed

• USDC
• BUSD
• GUSD
• USDT
• USDP
• TUSD
• CUSD

Overcollateralized

• DAI
  • Whitepaper
  • Ecosystem
  • Documentation
  • The Purple Paper
• LUSD
  • Documentation
  • Summary
• alUSD
  • Documentation
• sUSD
  • Litepaper
  • Whitepaper
  • Documentation

Undercollaterlized or Algorithmic

• RAI
  • Introduction
  • Whitepaper
  • Documentation
• Basis
  • Shutdown due to regulatory risk, with basis cash launching shortly after
  • Basis
    • Documentation
• FEI
  • Documentation
  • Fei Launch Analysis
  • FEI Protocol Analysis
  • Whitepaper
• UST
  • Whitepaper
  • Stability Stress Test
  • The Depeg
    • The Depegging of UST
    • Revival Plan
• FLOAT
  • Documentation
  • Litepaper Collection
• Empty Set Dollar
  • Documentation
• Dynamic Set Dollar
  • Introducing Dynamic Set Dollar
  • Whitepaper
• DeFi Dollar (dUSD)
  • Documentation
  • Opeth powering stablecoin loans
• MIM
  • Documentation
• FRAX
  • Documentation
  • Whitepaper
• USDL
  • Documentation
• UXD
  • Whitepaper
  • Documentation
• PUSD
  • Introducing Prime Protocol

Bitcoin/Lightning Stablecoins

• Settling Stablecoins on Liquid
• Synonym (Tether)
  • Overview
• RGB for Stablecoins
• Omnibolt

Questionably a Stablecoin

• OHM
  • Documentation
  • The Game Theroy of OHM
  • DeFi liquidity management via Optimal Control: Ohm as a case study
• TOMB
  • Documentation

Selected Reading

• Algorithmic Stablecoins are impossible without continous funding
• Two Thought experiments on stablecoins
• Capital Structures for Stablecoin Protocols: the Revenge of the Sith
• Captial Structures for Stablecoins: Funding
• How Frax beats the Rest
• The seniorage stablecoin model
• • A Stablecoin by Any Other Name: Value, Risk, Loss, and Gain
• Beware the Coupon Clipper: The Insurmountable Flaws of so-called Algorithmic Stablecoins
• Designing Money: A Functional Trilemma for the Digital Age
• Terra Thread
• Anchor to big to thrive
• Hackernoon Algostables
• Leminscap Algostablecoins
• A visual explanation of algo stables
• Coingecko List of Seniorage Shares

Other

• Stablecoin Growth from the Block)
• A minimal stablecoin implementation
  • Dune Analytics
• Rico Credit System

Alternative Lists

• Epiisteme/awesome-stablecoins
• sdtsui/awesome-stablecoins