Sonic is developing high-yield stablecoin, causing concerns over potential collapse like Terra-Luna event.

From Cointelegraph
March 23, 2025 06:21 AM:

The Sonic blockchain is developing an algorithmic stablecoin with up to 23% APR, despite concerns over potential collapse like the Terra-Luna event. The Terra ecosystem’s $40 billion crash erased billions, with TerraUSD yielding over 20% APY on Anchor Protocol. Europe’s MiCA bill aims to prevent future algorithmic stablecoin collapses. Despite LUNA’s 98% drop, investors are still trading it.

Read more at Cointelegraph: Sonic unveils high-yield algorithmic stablecoin, reigniting Terra-Luna ‘PTSD’