Yes, TerraUSD which is backed by Terra aka LUNA. The largest algorithmic, so-called decentralized, stablecoin in the crypto space.
The design is very similar to HBD with some important differences, such as lack of purpose to Terra outside of backing the stablecoins, lack of debt limits, and a heavy reliance on third parties and "foundations" to maintain liquidity and stability.
RE: What is happening with #TerraUSD today should demonstrate why having a ...