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. The Sonic blockchain is working on the implementation of an algorithmic stablecoin with up to 23% annual percentage rate (APR), according to Andre Cronje, […]
Gold-backed stablecoins will outcompete US dollar-pegged alternatives worldwide due to gold’s inflation-hedging properties and minimum volatility, according to Bitcoin (BTC) maximalist Max Keiser. Keiser argued that gold is more trusted than the US dollar globally, and said governments of foreign nations with an adversarial relationship to the United States would not accept dollar-pegged stablecoins. The BTC maximalist added: «Russia, China, and Iran are not going to accept a US dollar stablecoin. I predict they will counter the USD stablecoin with […]