The Vader team suspended the app’s minting functionality in May.
The burn feature has been temporarily disabled.
There will be no further releases of the app that generates the stablecoin Vader Protocol US Dollar (USDV), its creators said on December 29.
Like the doomed Terra network, Vader protocol was an algorithmic stablecoin network. It was hoped that encouraging arbitrages would ensure that USDV would always be worth $1. The Vader team suspended the app’s minting functionality in May. As Terra assets began to depeg from the underlying assets they were meant to represent. Its goal was to shield consumers from any harm associated with the depeg of both its stablecoin and the underlying currency.
Investors Funds at Stake
According to the Vader team, they spent the following six months attempting to secure the app with a complete overhaul. The researchers, however, discovered no major breakthrough in the algorithmic stablecoin design that is capital efficient despite their efforts
We współpracy z: https://thenewscrypto.com/vader-protocol-announces-closure-of-algorithmic-stablecoin-usdv/
