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So the value of Shen is purely speculative and I should buy it only because I think it will go up? When it goes down, why wouldn't it be exactly the same as it was with Terra and every other "algorithmic" "stablecoin"?
The Terra situation cannot happen. With Terra, an arbitrary number of Luna were minted, as people burnt their Terra in a panic. Such a mechanism simply does not exist in Djed. The backing is always ADA and the supply of ADA is still as fixed as it always was.