Stablecoins Archives - The Defiant

C.R.E.A.M. is Bringing Tether’s Euro-Pegged Stablecoin to DeFi

The competition to bring euro stablecoins to DeFi is heating up. Lending protocol C.R.E.A.M. Finance said it will make EURt, Tether’s euro-pegged stablecoin, available in its money markets to borrow and lend. At $62.28B according to its transparency page, Tether issues the largest supply of dollar-pegged stablecoins, USDT, and is looking to reproduce its success …

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Iron Finance at it Again: V2 has Drawn in Over $1B With Eye-Popping Yield Farms

Byte, News / By yyctrader / July 12, 2021 July 12, 2021 / Algorithmic Stablecoins, DeFi, DeFi Tokens, Iron Finance, Polygon, Stablecoins, Yield Farming

Less than a month after the spectacular implosion of Iron Finance’s algorithmic stablecoin, the DeFi project has relaunched a new yield farm on Polygon. Iron Finance’s IronSwap is an automated market maker (AMM) for stablecoin swaps. It aims to facilitate high-volume, low-slippage trades with low fees. For now, there’s no algorithmic insanity to deal with, …

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Circle To Go Public in Q4 at $4.5B Valuation

Byte, News / By Owen Fernau / July 9, 2021 July 9, 2021 / Circle, DeFi, SPAC, Stablecoins, USDC

DeFi’s most popular stablecoin issuer is going public. Circle, which issues the USDC stablecoin, announced its plans yesterday to go public in Q4 of this year through a special purpose acquisition company (SPAC). The deal will happen with Concord Acquisition Corp. and Circle will trade under the ticker symbol CRCL with the transaction valuing the …

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Federal Reserve Bigwig Defends Stablecoins as Alternative to Digital Dollars

Dive, News / By Owen Fernau / June 30, 2021 June 30, 2021 / Algorithmic Stablecoins, DeFi, DeFi Tokens, Ethereum, rates, Stablecoins

There’s nothing to be afraid of with stablecoins. That’s the main message Randal Quarles, the vice chair for supervision at the Federal Reserve and a member of its board, delivered on June 28, surprising a DeFi community that’s become inured to getting dissed by the financial establishment. Quarles believes private-sector stablecoins are a worthy alternative to …

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SafeDollar Stablecoin Plummets to Zero After Exploit

Byte, News / By Dan Kahan / June 29, 2021 June 29, 2021 / Algorithmic Stablecoins, Bug, Polygon, Stablecoins, USDC, USDT

The value of SafeDollar (SDO), an algorithmic stablecoin intended to be pegged to $1, has dropped to zero after a $248K exploit on Polygon. In a post-mortem analysis published on June 28, SafeDollar reported it had lost $202K of USDC and $46K of USDT as a result of an attack on one of its pools …

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