Topic: The Future of Algorithmic Stablecoins (Read 76 times)

Xal0lex

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Activity: 2436

Merit: 2347

Still, the hype around algorithmic stablecoins continues. As mentioned in the OP, NEAR will launch its own algorithmic stablecoin, USN. It has already been added to the NEAR wallet testnet.

There should be an official release on the main network very soon. Apparently the success of Terra's UST stablecoin has spurred NEAR to accelerate the adoption of this stablecoin in an attempt to occupy its niche in the rapidly evolving crypto stablecoin sector.

Also following UST, blockchain Tron will also launch its algorithmic USDD stablecoin, which will be backed by TRX. Stablecoin to launch in early May: https://twitter.com/justinsuntron/status/1517143091722940417

Definitely a trend that will be supported by other blockchains. We look forward to more announcements.

Xal0lex

staff

Activity: 2436

Merit: 2347

After a strong hype around Terra's UST algorithmic stablecoin, other projects are starting to think about launching their own algorithmic stablecoins.

For example, NEAR, according to rumors, may soon launch its own USN stablecoin: https://twitter.com/resdegen/status/1512126024846303232

Perhaps now begins the era of algorithmic stablecoins, which will be ubiquitous with large projects and they will be backed by cryptocurrency rather than dollars, as centralized stablecoins are.

Do you think there will be a shift of interest in the crypto industry toward algorithmic stablecoins? Will it be a new hype? And will algorithmic stablecoins completely displace centralized, dollar-backed stablecoins?

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