[zodiac]

> Stablecoins are fundamentally broken and unsound. Ignoring the tech-stack that achieves price stability, and looking at them purely economically, the math simply breaks down.

You seem to be making a claim about the space of all possible stablecoin designs, and then then proceeding to demonstrate weaknesses in one particular stablecoin design.

[JumpCrisscross]

Stable coins are unstable because they're inherently leveraged. This is a problem that traces back to the original "stable coin," bank deposits.

[darawk]

> Stable coins are unstable because they're inherently leveraged.

No they're not. Asset-backed Stable coins are not leveraged.

[zodiac]

First you must define what you mean by "stabecoin" and "leveraged". I can think of at least two definitions for each one that do not completely overlap.