Is Cardano's Charles Hoskinson Working on an Algorithmic Stablecoin?

Returning from his five-hour guest spot on Lex Fridman's podcast, Charles Hoskinson returned to his desk. And due to its academic nature, the IOHK company promises to publish an article on algorithmic stablecoins "in the coming weeks." This isn't the first time Hoskinson has mentioned stablecoins, and it may imply a new development for the Cardano ecosystem. Here's the tweet in question: We have a really cool algorithmic stablecoin paper coming out in the coming weeks. Unfinished business since Bitshares days. — Charles Hoskinson (@IOHK_Charles) June 18, 2021 Hoskinson co-founded Bitshares. The reason for his departure is not a matter of public enrollment. But in 2014, Hoskinson wrote on the bitcointalk forums: “I was CEO of Invictus Innovations until October. I was fired from the company and completely divested in early October.” And in a later post: "It saddens me that I can't do that with the company I helped fund, named and loved so much, but it's a job. I always remember it's not about people. changing the way the financial world works." Related reading | Ethereum co-founder has doubts about Cardano's "scientific method" This sounds like a story. But back to stablecoins. What is an algorithmic stablecoin? The most commonly used stablecoins are USDT and USDC, each considered to have fiat equivalents. A different type backed by other cryptocurrencies, the DAI minting service will hold your digital assets and give you a similar amount in their stablecoins.There is a third type as Coinmarketcap explains: Algorithmic stablecoins, algorithms to balance money The circulating supply of the asset. Simply put, the algorithm spends more coins when the price goes up and buys them from the market when the price goes down. For example, suppose a stablecoin costs $1. When the price drops to $0.80, an algorithm recognizes an imbalance between supply

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