# Keynote by VT - AMM Research, Orbswap

- Channel: [Stable Summit](https://streameth.org/stable_summit)
- Date: 2025-12-09
- Duration: 10:19
- Watch: https://streameth.org/watch/yt-wurFg7HeeRM
- YouTube: https://www.youtube.com/watch?v=wurFg7HeeRM

## Description

What makes a stablecoin truly stable? VT from Orbswap breaks down the math behind depeg events, using tail analysis, log-log plots, and frequency rankings to compare USDC, USDT, and DAI. He also questions the logic of “low-risk DeFi,” highlighting how fat-tailed returns distort our sense of volatility and security. 

• Speaker: VT - AMM Research, Orbswap