Current track
Stablecoins
Stablecoin Design
How a token holds a dollar: fiat-backed, crypto-backed, or algorithmic — and what each one risks.
TradFi: Currency board / money-market fund share
Algorithmic Stablecoins
Holding a peg with mechanism instead of collateral — elegant on paper, reflexive in a crisis. The UST/LUNA case study.
TradFi: Unbacked currency peg defense (and its bank runs)