[jeromegv]

For many/most, a stable coin was the exact opposite of a bet. It's not mean to grow in value, it's not meant to lose value, it's just meant to follow USD. They didn't think they were taking a bet, they thought they were storing their assets in something equals to US dollar. That's what the whole industry has been telling them, that's why they are called STABLEcoin.

[sunsunsunsun]

Whats the point of storing your life savings in something tied to the US dollar instead of just holding it in US dollars? I genuinely don't understand.

[xur17]

So, several answers - for someone in a priviliged economy, you can more easily deploy this capital to gain a return (deposit in a dex, etc). For people in less favorable conditions without access to USD, it's a way to access a relatively stable currency.

[dfgasdgsd]

They weren't betting on Terra though, they were betting on Luna, which isn't pegged and is obviously a bet.

[coldpie]

I've got a stable bridge to sell you, only $10k.