Regarding the design ideas for decentralized stablecoins, a core issue that cannot be avoided is the Oracle mechanism. If the Oracle itself is easily influenced by capital, then the so-called "decentralization" is essentially meaningless—because trust ultimately points to a black box that can be manipulated.

This is the real crux of the problem. Any system relying on external data sources, if that data source can be dominated by a single entity, then the entire trust model collapses. From a mathematical perspective, such a design cannot withstand scrutiny.

The "resistance to capture" of an Oracle is not optional but a fundamental requirement. Whether it’s a decentralized stablecoin or other DeFi protocols, when it comes to critical steps like price feeding and data confirmation, they must be built on a truly decentralized foundation that is difficult for a single entity with capital to manipulate. Otherwise, no matter how fancy the mechanism design is, it’s just a different way of saying centralized.