I’m really excited about it, I do take issue with people still not knowing what parts of crypto aren’t crashing and are working very well. To me that still seems intentional, but at the very least its annoying.
People dont know why “Magic Internet Money” - a stablecoin - is a meta-meme on re-appropriated skepticism of all crypto while being designed decently well, much better than TerraLuna (overcollateralized, compared to "partially collateralized as a last ditch effort that predictably failed"), MIM is holding its benchmark price through this stress test so far.
Same for DAI, which has a similar but older and more convoluted design than MIM, and less native collateral choices.
All while neither of these are perfect. None of these are a model decentralized stablecoin (for those that dont want a central company being able to freeze some funds, but I understand thats a feature for some market participants).
I like that the shakeouts and implosions will cause great discount prices. “Discounts” because many implosions force selling that pushes a price down beyond the rest of the market’s feelings, and when that selling stops (which can be transparently seen), the prices reach back to the level people were willing to pay. A chance I am sometimes willing to take.