Sonic（SUI）联合创始人Andre Cronje在五周内逗弄了新算法Stablecoin

在涉及Terrausd（UST）等算法的算法的备受瞩目的丑闻之后，该丑闻崩溃并造成了近400亿美元的投资者损失

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

Sonic联合创始人兼首席建筑师Andre Cronje于3月25日取笑，计划在网络上启动新的算法Stablecoin。

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

Cronje强调，新的Stablecoin可以以10亿美元的总价值（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日说：

“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，我们的团队今天破裂了稳定的硬币，但是以前的周期给了我太多的PTSD不确定我们是否应该实施。”

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）等算法稳定股的备受瞩目的丑闻，该算法崩溃了，对投资者造成了近400亿美元的损失。这一集引发了对稳定剂的算法模型的广泛审查。

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.

尽管最初的犹豫，克朗杰仍继续分享技术基准。 3月22日，他发布了一份概念验证（POC），显示了稳定的稳定剂的APR收益超过200％，至1000万美元的TVL，下降到约23.5％，至1亿美元，稳定在4.9％以上，超过10亿美元的TVL。

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

3月24日，他报告了优化的突破，这些突破大大提高了产量潜力。他在一篇文章中说：

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

“ Yohaan刚刚找到了一种将其转变为95.9％的APY，售价为1亿美元，而19.18％的APY为1亿美元+”

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没有透露有关Stablecoin算法机制，抵押背衬或链内控件的任何细节。但是，产量曲线意味着基于流动性层的可变速率回报系统。

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

此外，产量模型提出了一种可扩展的激励机制，在该机制中，早期采用者获得了更高的回报，随着流动性加深逐渐正常化。

A $230 billion market

2300亿美元的市场

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

高性能层网络Sonic正在将自己定位为针对财务应用程序优化的执行环境。

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.

根据Cronje的说法，该网络是针对高通量和低延迟操作量身定制的，这表明Stablecoin产品可以作为其不断发展的生态系统中的核心组成部分。

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市场最近超过了2,300亿美元的总价值，由Tether的USDT的1450亿美元市值领导，其次是Circle的USD Coin（USDC），该公司的市值为580亿美元。

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.

尽管USDT的统治地位，但新进入者仍在该行业提出了真正的竞争，其中包括Ethena Labs的USDE，该公司在过去一年中取得了良好的增长。

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

USDE也是一种算法Stablecoin，在一年内从13亿美元的市值攀升至54亿美元。