Yes, there are fiat-independent stablecoins, also known as algorithmic stablecoins. These stablecoins aim to maintain their stability without being directly tied to fiat currencies. Instead, they utilize algorithmic mechanisms, such as smart contracts, to adjust their token supply dynamically based on market demand. While still in the realm of stablecoin development, algorithmic stablecoins aim to offer stability without relying on traditional fiat reserves.
Yes, there are fiat-independent stablecoins, also known as algorithmic stablecoins. These stablecoins aim to maintain their stability without being directly tied to fiat currencies. Instead, they utilize algorithmic mechanisms, such as smart contracts, to adjust their token supply dynamically based on market demand. While still in the realm of stablecoin development, algorithmic stablecoins aim to offer stability without relying on traditional fiat reserves.