In-depth Analysis of Algorithmic Stablecoins

Can algorithmic stablecoins truly achieve long-term survival? Will algorithmic stablecoins always be subject to extreme expansion and contraction cycles? Which vision of algorithmic stablecoins is more convincing: simple rebase models or multi-token seigniorage systems, or something else? There are two academic papers about stablecoins from 2014 worth careful reading: one is Ferdinand Ametrano's "Hayek Money: The Cryptocurrency Price Stability Solution," and the other is Robert Sams' "A Note on Cryptocurrency Stabilisation: Seigniorage Shares."