Runs on Algorithmic Stablecoins: Evidence from Iron, Titan, and Steel

Austin Adams and Markus F. Ibert

No 2022-06-02, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Stablecoins---digital currencies pegged to an external reference (e.g., the US dollar)---play an increasingly important role in transacting digital currencies. However, with a peg to an external reference comes the risk that the peg breaks and, akin to runs on other financial instruments, the risk of a stablecoin run.

Date: 2022-06-02
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2022-06-02

DOI: 10.17016/2380-7172.3121

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