Sonic Blockchain is trying to implement yields and algorithm Starble coins despite fear of potential collapse similar to Terra-Luna Meltdown.
The algorithm stablecoin uses the code -based mechanism to adjust the value of the default currency, as opposed to the Fiat -Star Bible.
According to Andre Cronje, the co -founder of Sonic Labs, Blockchain Project is developing an algorithm stabble lechoin, which provides up to 23%annual ratio (APR).
CRONJE wrote on March 22 on the X post:
“POC looks good.> 10m @ 10m tvl> 200% APR @ 100m @ 100m, 1BN+, about 4.9%, and will team for the whole release.”
source: Other CRONJE
The announcement came out a day after Cronje experienced a post -traumatic stress disorder (PTSD) related to the stability of the previous cycle.
“Our team is convinced that our team has broken a stable coin today, but the previous cycle gave too much PTSD that we should implement.”
In May 2022, a $ 40 billion terra ecosystem collapsed, and in a few days, billions of dollars were erased in a few days. Terra’s algorithm stablecoin Terrausd (USST) produced APY (APY) in the anchor protocol.
When USST lost its dollar Peg, DO Kwon, co -founder of Terraform Labs, took X to share the rescue plan. At the same time, the value of the top 10 encryption project, the top 10 encryption project, once plunged to $ 0.84, to $ 0.84. Luna traded north of $ 120 in early April.
relevant: Sonic tvL increases from 66%to $ 25.3 million since FANTOM’s brand change.
SONIC claims to be the fastest EVM (ETHEREUM Virtual Machine) chain in the world with the “True” 720 Milly second final castle. This is convinced that the transaction is irreversible, which occurs after adding to the block of the blockchain ledger.
SONIC attracted attention in the encryption industry after TestNet achieved 720ms payment on September 8, 2024.
relevant: The FTX cleared $ 1.5B with 3AC assets two weeks before the collapse of the hedge fund.
Investors are still purchasing LUNA tokens that have collapsed for years after the Terra Crash.
Terra (LUNA) tokens fell more than 98% from the 19.54 all -time highs, according to CoinmarketCap data on May 28, 2022, almost three years ago.
Luna/USD, Sasang Chart. source: Coinmarketcap
Despite the collapse, the token has seen more than $ 21 million in trading volume over the last 24 hours. “People are dead, but people still live.
The collapse of the algorithm Starble Lixin publisher created shockwaves between encryption investors and lawmakers.
In order to create more stability, the European Union Market of the Crypto Assets Regulation (MICA) bill will prohibit the publication of the algorithm Starble Lecomin to avoid another collapse similar to the TERRA ecosystem.
https://www.youtube.com/watch?v=2Exstn1krcu
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