Not really, it took the DAI 3 weeks to stabilize its peg to the dollar. Look at the chart of the DAI from March 12 to March 30. DAI was constantly subject to fluctuations and almost daily de-peg. This is not a good indicator for a decentralized stablecoin.
yeah i agree it's not a good looking chart but it could have been worse, it could have dipped down below 90% for days in a row. from that chart it looks like it had one spike down and then right back up above 90.
I am trying other alternatives, I am hoping $USDC and $PYUSD (massively listed and now a holding of mine on bitget waiting for trading pairs) can overtake USDT. A token that always was in the eye of Hurricane for the lack of proof to have the Reserves.
thing i don't like about usdc is how they can just freeze your usdc by pressing a button. but i guess tether could do that too? but i havent heard of tether doing it. but i think it if was me, i would hold usdc rather than tether but they both probably are bad ideas.
i guess this story was just a bunch of BS:
since it was written in 2021 and i know tether isn't protected or insured against hacks. (or depeggings)
Stablecoin insurance firm Bridge Mutual to protect against possible Tether depegging
https://cointelegraph.com/news/stablecoin-insurance-firm-bridge-mutual-to-protect-against-possible-tether-depegging