The Hassett-Keel program via $\mathrm{\Theta }$-stability

We study the intrinsic notion of $\alpha$-stability for curves arising from the Beyond GIT approach to moduli spaces. We show that it recovers Deligne-Mumford stability for $9\mathrm{/}11<\alpha \le 1$, and more generally that the $\alpha$-semistable locus is contained in the known modular compactification of the Hassett-Keel proram for $\alpha >2\mathrm{/}3-\epsilon$. As applications, we also obtain new $\alpha$-stability results for smooth curves. Our approach combines slope inequalities with a degeneration theorem showing that every Gorenstein curve with a non-nodal singularity can be isotrivially degenerated to a Gorenstein curve with a ${\mathbb{G}}_m$-action.