Algorithmic Stablecoins Continue Decline

Vader Protocol announced it will shut down its algorithmic stablecoin, reflecting another sign of the times. Since Terra’s collapse, algorithmic stablecoins have only continued to decline. The market share of this subcategory fell to 1.6% from its peak above 12% in May. While builders will undoubtedly continue to pursue the goal of a “crypto-native dollar,” investors have shown a clear preference towards centralized alternatives over unproven peg designs.

Continue reading on Messari