Algorithmic stablecoins show promise of reducing volatility — ShapeShift
“Stablecoin experimentation is happening in real-time with billions of dollars at stake in this vast permissionless lab we call DeFi,” reads a new research report from ShapeShift. The author focuses on the rise of algorithmic stablecoins and their potential use cases. Promising innovations in DeFi have given rise to a new breed of stablecoins that have the potential to reduce volatility and promote greater decentralization, according to a new research report from ShapeShift. In its latest New Frontiers research study, ShapeShift explores the recent growth of “algorithmic stablecoins,”....
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Are algorithmic stablecoins trying to clone the intrinsic qualities of fiat money or dollar; like security? The recent craze over algorithmic stablecoins has stirred mixed reactions from the crypto community. For crying out loud, it has been an emotional contagion for crypto enthusiasts everywhere. So, is it overkill? Are algorithmic stablecoins too ambitious? Suggested Reading […]
The Erik Voorhees-led company is making strides to fully decentralize its corporate structure. In July, ShapeShift announced the largest airdrop in history as part of its decentralization pledge. As part of its ongoing decentralization efforts, non-custodial cryptocurrency exchange ShapeShift announced Thursday that it has open-sourced the code of its upcoming version two platform, giving developers the opportunity to contribute to the iteration process. ShapeShift’s v2 code repository is now available on Github, making it easier for developers to download it to their local drives. “This....
DAI has been around since 2017, which no algo stablecoins has ever matched, and it’s unlikely to share the fate of UST. TerraUSD (UST) flipping BinanceUSD (BUSD) for the third spot in the market capitalization list didn’t last long. The once-mighty stablecoin that powers the entire Terra ecosystem finds itself reduced to “Terra is more than UST” tweets. While no one knows for sure if LUNA can stage a comeback, UST will certainly go down as one of the algorithmic stablecoins that went kaput in the same fashion as Basis Cash — which Terra creator Do Kwon was allegedly a part of — and Mark....
Things haven't been going particularly well for PayCoin, lately. Following a recent drop in price due to what some are calling the work of "online trolls," altcoin exchange Shapeshift.io has removed the currency from its platform due to what the exchange is calling a "broken promise," where customers could purchase PayCoins at $20 each. ShapeShift made the announcement via a Reddit post, saying: "We've looked further into Paycoin, and while there are some criticisms that are superfluous (a coin being 'premined' does not necessarily make it a scam, for example), there is one particular....
Instant altcoin exchange ShapeShift.io chose to remove PayCoin from their platform. Today, altcoin exchangeShapeShift.io formally removed PayCoin (XPY), GAW CEO Josh Garza's controversial altcoin, from their list of accepted coins. Citing PayCoin's (alleged) broken promise to buy PayCoins at $20 each, ShapeShift considers PayCoin a fraud. Also read: Coin-Swap Retires Some Altcoins. PayCoin Delisted from ShapeShift.io. ShapeShift made the announcement in a Reddit post. They explain that they originally added the coin due to customer demand but decided to remove it after allegations that....