Sonic Blockchain is implementing Stablecoin the algorithms generated from the return despite fears of potential collapse similar to the Terra-Luna collapse that led to the longest winter in the industry.
Stablecoins algorithm employment Code -based mechanisms to ensure stability in their price, unlike Fiat Stablecoins, they are directly linked to the basic currency value.
Sonic Blockchain is implementing Stablecoin algorithm that reaches 23 % annual percentage (APR), according to Andre Kronji, co -founder of Sonic Labs and Fearn.finance founder.
Kronji wrote on March 22 x mail:
“POC looks good. Return> 200 % APR @ 10m TVL, about 23.5 % APR @ 100m, steadily at about 4.9 % at 1BN.
source: André Kronji
The advertisement came a day after Kronji I confess To experience PTSD related to Stablecoin algorithm due to previous sessions:
“Certainly, our team broke the stable coins today, but the previous session gave me a lot of post -traumatic disorder is not sure whether we should implement it.”
In May 2022, 40 billion dollars Terra The ecosystem collapsed, erasing tens of billions of dollars of value within days. The algorithms were in Terra, Terrausd (UST), resulting in an annual percentage of more than 20 % (APY) on the anchor protocol.
When the UST lost the dollar’s connection, it decreased to the lowest level in about $ 0.30, Co -founder of TerraForm Labs Do Kwon Take to X to share its own rescue plan. Meanwhile, the value of the Taken Tokeen Luna, which was once, the 10 best encryption projects by market value, decreased more than 98 % to $ 0.84. To refer to it: Luna was trading at a value of $ 120 in early April.
Related to: Sonic TVL has increased by 66 % to $ 253 million since the brand rename from Fantom
Sonic claims that it is the fastest series of virtual machines (ETHEREUM) in the world, with “Sahih” 720 mm (MS) Final – Emphasizing that the treatment is irreversible, which occurs after adding it to a block on the Blockchain book.
Sonic has acquired attention in the encryption industry since then Testnet achieved a final 720 mm On September 8, 2024.
Related to: FTX 1.5 billion dollars was ranked in 3AC Assets two weeks before the hedge truck collapsed
Investors still buy Luna Token years after years of Terra Crash
The Terra (Luna) code decreased more than 98 % of its highest level ever in 19.54 registered on May 28, 2022, nearly three years ago, Coinmarketcap Data appears.
Luna/US dollar, the graph at all. source: Coinmarketcap
Despite the collapse, the distinctive symbol has seen more than $ 21 million of trading over the past 24 hours, indicating that “people are still buying it even though they are dead”, male The famous technical analyst Optius Kivitron.
The collapse of Stablecoin Source has created shock waves between both encryption investors and legislators.
To create more stability, the European Union markets in organizing encryption costumes (Mika) Bell Will Blocking the algorithm Stablecoins to avoid another collapse similar to the environmental Terra.
https://www.youtube.com/watch?
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