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Cardano Creator Teases Algorithmic Stablecoin Paper

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Fri, 06/18/2021 - 06:57
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Alex Dovbnya
IOHK is set to publish an academic paper on algorithmic stablecoins
Cardano Creator Teases Algorithmic Stablecoin Paper
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IOHK CEO Charles Hoskinson has announced that the Cardano developer is going to release a new research paper on algorithmic stablecoins, which maintain peg by automatically adjusting their supply.

The billionaire claims that the paper is some “unfinished business” from his Bitshares days.

Hoskinson co-founded Bitshares together with prominent cryptocurrency entrepreneur Daniel Larimer, but the two parted ways for unknown reasons.

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Back in January, IOHK and EMURGO announced that the AgeUSD stablecoin would launch on the Ergo blockchain.

Last August, Hoskinson said that he was “obsessed” with decentralized finance while adding that Cardano’s algorithmic stablecoin would be “significantly better” than MakerDAO.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.