{"id":22536,"date":"2025-03-29T15:47:36","date_gmt":"2025-03-29T13:47:36","guid":{"rendered":"https:\/\/forklog.com\/en\/sonic-labs-alters-stablecoin-launch-plans\/"},"modified":"2025-03-29T15:47:36","modified_gmt":"2025-03-29T13:47:36","slug":"sonic-labs-alters-stablecoin-launch-plans","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sonic-labs-alters-stablecoin-launch-plans\/","title":{"rendered":"Sonic Labs Alters Stablecoin Launch Plans"},"content":{"rendered":"<p>Instead of a dollar-based algorithmic stablecoin, developers at <a href=\"https:\/\/forklog.com\/en\/news\/a-phantom-reborn-sonic-a-revamped-network-from-the-father-of-defi\">Sonic Labs<\/a> plan to launch a &#8220;mathematically bound numerical Dirham,&#8221; according to the company&#8217;s head, Andre Cronje.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We will no longer be releasing a USD based algorithmic stable coin. <\/p>\n<p>Completely unrelated, we will be releasing a mathematically bound numerical Dirham which is settled and denominated in USD, which is definitely not a USD based algorithmic stable coin. <a href=\"https:\/\/t.co\/NlLsT5IqoE\">https:\/\/t.co\/NlLsT5IqoE<\/a><\/p>\n<p>\u2014 Andre Cronje (@AndreCronjeTech) <a href=\"https:\/\/twitter.com\/AndreCronjeTech\/status\/1905595237210202291?ref_src=twsrc%5Etfw\">March 28, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to him, the new product is &#8220;definitely not a USD based algorithmic stablecoin.&#8221;<\/p>\n<p>The decision to change course was influenced by the draft of the US bill <a href=\"https:\/\/steil.house.gov\/sites\/evo-subsites\/steil.house.gov\/files\/evo-media-document\/stable-act-final-bill.pdf\">STABLE Act<\/a>, which proposes a two-year moratorium on the launch of new &#8220;endogenously collateralized&#8221; assets.<\/p>\n<p>Meanwhile, the UAE government <a href=\"https:\/\/www.khaleejtimes.com\/business\/uae-new-dirham-symbol-new-banknotes-digital-currency\">announced<\/a> plans to launch a blockchain version of the national currency, the Dirham, by the end of 2025. It is unknown whether Sonic Labs developers are involved in this project.<\/p>\n<p>Back in March, Cronje <a href=\"https:\/\/forklog.com\/en\/news\/sonic-labs-to-launch-its-own-algorithmic-stablecoin\">announced<\/a> plans to launch a dollar-based algorithmic stablecoin. At that time, the creators were left to scale the system and prepare for a full release.<\/p>\n<p>Earlier, journalists reported on Fidelity&#8217;s plans to <a href=\"https:\/\/forklog.com\/en\/news\/fidelitys-stablecoin-ambitions-revealed-by-ft\">launch<\/a> its own stablecoin. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Instead of a dollar-based algorithmic stablecoin, developers at Sonic Labs plan to launch a &#8220;mathematically bound numerical Dirham,&#8221; according to the company&#8217;s head, Andre Cronje. We will no longer be releasing a USD based algorithmic stable coin. Completely unrelated, we will be releasing a mathematically bound numerical Dirham which is settled and denominated in USD, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[807,42,26],"class_list":["post-22536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-stablecoins","tag-uae","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"68","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=22536"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22536\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/22535"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=22536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=22536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=22536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}