Written by: Azuma, Odaily
Andre Cronje (AC), a veteran DeFi master and co-founder of multiple well-known projects like Sonic, Yearn, and Keep3r, is set to enter the algorithmic stablecoin field.
On March 21, AC first disclosed the project's ideas on his personal X account, stating that the team had made technical breakthroughs in the algorithmic stablecoin domain, but past events had left him with "post-traumatic stress disorder" (PTSD), making him uncertain about implementing the plan.
Algorithmic stablecoins, with their massive potential market space, high mathematical appeal, and innovation closer to the original cryptocurrency spirit, have long been a track pursued by industry "geniuses". However, since the Terra (UST) collapse, the track's reputation has been severely damaged... which is why AC mentioned "PTSD from past events" in his first related post.
Nevertheless, this is AC, once dubbed the "King of DeFi". After he revealed his intentions, while some users opposed the idea, more users commented with support and anticipation.
On March 22, AC reposted his first post and published a "Yolo", seemingly determined to push the project forward.
On March 23, AC first disclosed some project details, posting screenshots of the algorithmic stablecoin's interactions with multiple contracts - possibly called minimal usd (musd), though unconfirmed. AC stated: "When TVL is $10 million, the stablecoin's annual percentage rate (APR) can exceed 200%; at $100 million TVL, APR is around 23.5%; at TVL over $1 billion, APR will stabilize around 4.9%."
Simultaneously, AC officially confirmed he will assemble a team to fully launch the project.
(Pure speculation) Although there's no official introduction yet, based on AC's screenshots, the stablecoin seems connected to Sonic's native token S and liquidity derivative token stS (issued by Beets), potentially meaning the stablecoin will be linked to the Sonic network, with earnings at least derived from Sonic's staking rewards.
Some industry professionals have questioned the yield rates AC provided.
CavalRe founder Eric Forgy commented: "I was skeptical about this project. Now I'm certain it has flaws. Looking forward to seeing detailed information. Glad to review before entering the stablecoin mainnet."
AC responded directly: "You dare say you're 'certain' after seeing a screenshot without any operational context??? I'm sure you know nothing, get out of my comments."
Unfortunately, more specific details about the algorithmic stablecoin remain unavailable, but anticipation remains for AC's new innovation.
After the last DeFi cycle's silence, AC had been quiet, but with Fantom's rebirth as Sonic, his entrepreneurial passion seems reignited. He's now almost the most active cryptocurrency founder on X, daily posting, commenting, and sharing massive content.
Besides Sonic and the algorithmic stablecoin mentioned, AC seems to be preparing another high-leverage derivatives exchange called flyingtulip, competing with the currently popular Hyperliquid.
A new cycle, a new narrative - let's witness whether AC can replicate and surpass his former self.
