标题： 四种稳定币类型：比较分析 显示英文标题

标题： The four types of stablecoins: A comparative analysis

摘要： 稳定币最近获得了显著的流行，其市值已上升至超过1800亿美元。 然而，最近的事件引发了对其稳定性的担忧。 在本文中，我们根据抵押品的来源和管理方式将稳定币分为四类，并研究了每种类型在不同条件下的稳定性。 我们使用基于代理的模拟突出了每种类型的潜在不稳定性及其背后的权衡。 结果强调了仔细评估稳定币抵押品的来源及其抵押品管理机制的重要性，以确保稳定性和最小化风险。 对稳定币的深入理解应对监管机构、政策制定者和投资者都有所启发。 显示英文摘要

摘要： Stablecoins have gained significant popularity recently, with their market cap rising to over $180 billion. However, recent events have raised concerns about their stability. In this paper, we classify stablecoins into four types based on the source and management of collateral and investigate the stability of each type under different conditions. We highlight each type's potential instabilities and underlying tradeoffs using agent-based simulations. The results emphasize the importance of carefully evaluating the origin of a stablecoin's collateral and its collateral management mechanism to ensure stability and minimize risks. Enhanced understanding of stablecoins should be informative to regulators, policymakers, and investors alike.