How to Protect Against Stablecoin Blowups

Dear Bankless nation,

Stablecoins are supposed to be stable, but they aren’t always. If you knew a depeg was incoming, what could you realistically do about it other than dumping your coins?

Y2K Finance is a protocol on Arbitrum that lets you bet on or hedge against these occasional “once in a lifetime” crypto events. It’s the kind of financial product you hope you don’t need but may be very happy you did use. Today, we take you under the hood of Y2K.