The collapse of Terra’s UST highlighted the risks of relying solely on algorithmic promises. USDe, built on real collateral and delta-neutral hedging, emerged as a stark contrast to this failure. Its ability to withstand market stress and maintain stability offers a blueprint for the future of stablecoins. 3 years ago, LUNA collapsed due to a loss of trust in its algorithmic mechanics. USDe’s resilience during the 2025 market crash serves as a testament to its robust design. Even during a brief price drop, USDe’s system remained operational thanks to transparent communication and rapid arbitrage. This success showcases a fundamental shift in the stablecoin landscape, away from algorithmic faith towards transparency and risk control.