Charles Hoskinson, CEO of IOHK and creator of Cardano, announced that they will publish a new article on algorithmic stablecoins that keep volatility stable by automatically adjusting their supply.

Charles Hoskinson, CEO of IOHK and creator of Cardano, announced that they will publish a new article on algorithmic stablecoins that keep volatility stable by automatically adjusting their supply. The billionaire said that this article is “unfinished business” from the Bitshares days.

Hoskinson co-founded Bitshares with prominent cryptocurrency entrepreneur Daniel Larimer, but they parted ways for unknown reasons. In January, IOHK and EMURGO announced that the AgeUSD stablecoin will be launched on the Ergo Blockchain network. Last August, Hoskinson added that while Cardano’s algorithmic stablecoin would be “significantly better” than MakerDAO, he was “obsessed” with decentralized finance.

Stablecoins are a type of cryptocurrency whose value is usually indexed to a fiat currency or other valuable asset. One of the closest exemplary stablecoins is Tether (USDT), which was created to be pegged to the US dollar. Tether’s price is indexed to the US dollar and its price is determined by the dollar. In general, their purpose is to eliminate the natural price fluctuation seen in crypto money prices and to reduce volatility.

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