Arca accuses Circle of betrayal: Why did the IPO feast abandon its crypto allies and favor Wall Street? | Bee Network
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TL;DR Stablecoins have long been regarded as the crown of the cryptocurrency industry, but early developments have focused on algorithmic stablecoins, such as Ampleforths AMPL and Terras UST (LUNA). These projects attempt to break away from their reliance on U.S. dollar assets and build encapsulated dollar stablecoins through algorithmic mechanisms, with the goal of promoting the large-scale application of stablecoins in the crypto and DeFi ecosystems, and ultimately expanding to traditional off-chain users. In addition, there are significant differences in the path choices between the two. Ampleforth is committed to creating a native settlement unit that belongs entirely to the crypto world, so it does not maintain a 1:1 peg to the U.S. dollar; TerraUSD (UST) attempts to maintain a stable anchor with the U.S. dollar so that it can…# Analysis# Airdrop# crypto# Market# TokenPre
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- Original article by: Jeff Dorman , Chief Investment Officer, Arca Original translation: Yuliya, PANews As the issuer of USDC stablecoin, Circles IPO should have been an important milestone for th...