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

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Will scale up and get team for a full release.”Source: Andre CronjeThe announcement came a day after Cronje admitted to experiencing Post-traumatic stress disorder (PTSD) related to algorithmic stablecoin due to previous cycles:“Pretty sure our team cracked algo stable coins today, but previous cycle gave me so much PTSD not sure if we should implement.”In May 2022, the $40 billion Terra ecosystem collapsed, erasing tens of billions of dollars of value in a matter of days.

The Sonic blockchain is working on the implementation of an algorithmic stablecoin with up to 23% annual percentage rate (APR), according to Andre Cronje, co-founder of Sonic Labs and founder of Yearn.finance.

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.

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Article Details

Author / Journalist: Cointelegraph by Zoltan Vardai

Category: Crypto

Markets: United StatesHong Kong

Topics: Sonic 2022 Stablecoin Crypto Algorithmic Collapse Value Blockchain Stablecoins Implementation Terra

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-23 @ 10:21:08 (2 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 454 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27250745

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