Sonic（SUI）聯合創始人Andre Cronje在五週內逗弄了新算法Stablecoin

在涉及Terrausd（UST）等算法的算法的備受矚目的醜聞之後，該醜聞崩潰並造成了近400億美元的投資者損失

Sonic co-founder and lead architect Andre Cronje teased on March 25 plans to launch a new algorithmic stablecoin on the network.

Sonic聯合創始人兼首席建築師Andre Cronje於3月25日取笑，計劃在網絡上啟動新的算法Stablecoin。

Cronje highlighted that the new stablecoin could offer over 19% in annual percentage yield at $1 billion total value locked (TVL).

Cronje強調，新的Stablecoin可以以10億美元的總價值（TVL）提供19％以上的年百分比百分比。

He previously said on March 20:

他此前在3月20日說：

“Pretty sure our team cracked algo stable coins today, but previous cycle gave me so much PTSD not sure if we should implement.”

“可以肯定的是，我們的團隊今天破裂了穩定的硬幣，但是以前的周期給了我太多的PTSD不確定我們是否應該實施。”

Cronje was referring to high-profile scandals involving algorithmic stablecoins like TerraUSD (UST), which crashed and caused nearly $40 billion in losses for investors. The episode triggered widespread scrutiny of algorithmic models for stablecoins.

Cronje指的是涉及Terrausd（UST）等算法穩定股的備受矚目的醜聞，該算法崩潰了，對投資者造成了近400億美元的損失。這一集引發了對穩定劑的算法模型的廣泛審查。

Despite initial hesitation, Cronje proceeded to share technical benchmarks. On March 22, he published a proof of concept (POC) showing the stablecoin yielding over 200% APR at $10 million in TVL, decreasing to approximately 23.5% at $100 million, and stabilizing near 4.9% beyond $1 billion in TVL.

儘管最初的猶豫，克朗傑仍繼續分享技術基準。 3月22日，他發布了一份概念驗證（POC），顯示了穩定的穩定劑的APR收益超過200％，至1000萬美元的TVL，下降到約23.5％，至1億美元，穩定在4.9％以上，超過10億美元的TVL。

On March 24, he reported optimization breakthroughs that massively increased yield potential. He said in a post:

3月24日，他報告了優化的突破，這些突破大大提高了產量潛力。他在一篇文章中說：

“Yohaan just found a way to turn this into 95.9% APY at $100m TVL, and 19.18% at $1bn+”

“ Yohaan剛剛找到了一種將其轉變為95.9％的APY，售價為1億美元，而19.18％的APY為1億美元+”

Cronje did not disclose any details on the stablecoin’s algorithmic mechanics, collateral backing, or on-chain controls. However, the yield curve implies a variable-rate return system based on liquidity tiers.

Cronje沒有透露有關Stablecoin算法機制，抵押背襯或鏈內控件的任何細節。但是，產量曲線意味著基於流動性層的可變速率回報系統。

Additionally, the yield model suggests a scalable incentive mechanism where early adopters are rewarded with higher returns, gradually normalizing as liquidity deepens.

此外，產量模型提出了一種可擴展的激勵機制，在該機制中，早期採用者獲得了更高的回報，隨著流動性加深逐漸正常化。

A $230 billion market

2300億美元的市場

Sonic, a high-performance layer-1 network, is positioning itself as an execution environment optimized for financial applications.

高性能層網絡Sonic正在將自己定位為針對財務應用程序優化的執行環境。

According to Cronje, the network is tailored for high-throughput and low-latency operations, suggesting a stablecoin product could serve as a core component in its evolving ecosystem.

根據Cronje的說法，該網絡是針對高通量和低延遲操作量身定制的，這表明Stablecoin產品可以作為其不斷發展的生態系統中的核心組成部分。

The stablecoin market recently surpassed $230 billion in total value, led by Tether’s USDT’s $145 billion market cap, followed by Circle’s USD Coin (USDC), which has a market cap of $58 billion.

Stablecoin市場最近超過了2,300億美元的總價值，由Tether的USDT的1450億美元市值領導，其次是Circle的USD Coin（USDC），該公司的市值為580億美元。

Despite USDT’s dominance, new entrants are posing real competition in the sector, including Ethena Labs’ USDe, which registered outstanding growth over the past year.

儘管USDT的統治地位，但新進入者仍在該行業提出了真正的競爭，其中包括Ethena Labs的USDE，該公司在過去一年中取得了良好的增長。

USDe, which is also an algorithmic stablecoin, climbed from a $1.3 billion market cap to $5.4 billion within a year.

USDE也是一種算法Stablecoin，在一年內從13億美元的市值攀升至54億美元。