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Sonic unveils high-yield algorithmic stablecoin, reigniting Terra-Luna ‘PTSD’

The Sonic blockchain is working on the implementation of its yield-generating, algorithmic #stablecoin despite fears over a potential collapse similar to the Terra-Luna meltdown that led to the industry’s longest crypto winter.

Algorithmic #stablecoins employ code-based mechanisms to ensure their price stability, as opposed to fiat stablecoins pegged directly to the value of the underlying currency.
#soniclabs #fantom $S $FTM

Sonic unveils high-yield algorithmic stablecoin, reigniting Terra-Luna ‘PTSD’

The Sonic blockchain is working on the implementation of its yield-generating, algorithmic #stablecoin despite fears over a potential collapse similar to the Terra-Luna meltdown that led to the industry’s longest crypto winter.

Algorithmic #stablecoins employ code-based mechanisms to ensure their price stability, as opposed to fiat stablecoins pegged directly to the value of the underlying currency.
#soniclabs #fantom $S $FTM


https://cointelegraph.com/news/sonic-blockchain-algorithmic-stablecoin-andre-cronje