[pants2]

Unbacked stablecoins like USR make no sense - but USDC is one of the few real uses that crypto has.

[Jommi]

USR is not unbacked. You have a severe misunderstanding of the whole situation if you say that.

[oersted]

To be fair, the article itself says "unbacked" right upfront:

> an attacker was able to mint tens of millions of Resolv’s unbacked stablecoins (USR) and extract roughly $23 million in value

[gwd]

If I understand the situation properly, the system is only supposed to mint backed stable-coins; the hack resulted in unbacked ones.

[mememememememo]

Decentralized. Stable. Pick one.

[Jommi]

Decentralized > the transfer of authority, decision-making, or operational functions away from a central authority to smaller, local, or distributed nodes, systems, or entities

DAI is decentralized and stable