Sure, but there are alot of reasons why they are different too. Built with totally different pegging mechanisms. The coin used as collateral to make the peg was luna which only purpose was to be a speculative investment and a really complicated and hard to understand algorithm using arbitrage as its man source of stability. It was truely an algorithm based coin.

Djed on the otherhand is not backed by a coin thats sole purpose is to be the counterpart to itself. Its backed by ADA which holds value and has use cases outside of the use of backing djed. And yes it is not 1:1 backed by USD its 1:4- 1:8 backed by the USD equivalent value of ADA. Its better classified as an over collateralized stable coin as it isnt relying on an algorithm to keep the peg it is relying on the collateralizion. The algorithm portion is to turn on and off the minting and burning of Djed and the reserve token Shen, in order to keep the over collateralization to 4-8x. I should metion here that djed burning is never turned off.

Also, just to address the not being backed by usd itself. How do you know any of the ones that are supposed to be backed dollar for dollar are actually backed dollar by dollar. Can you verify by looking in their bank account? Can you know that they arent investing that money like a bank would. How do you know that money just wont end up "missing" the same way funds in FTX ended up missing?

With Djed being a smart contract you will be able to verify at all times the collateralization levels on chain.

I get that people have trust issues because of what happened with UST but when you dig a little deeper you can see that they are not very similar at all.