Decentralized Autonomous Organization, AugmentLabs, has out doored the world’s first algorithmic Stablecoin, which features fail-safe mechanisms. The launch follows a successful multi-million-dollar seed token sale and an ongoing private token sale.
The new Stablecoin has been developed in response to the collapse of trusted centralized systems in 2022, paving way for the entry of Stablecoin. This provides some stability in the event of quick trade. The Automated Marketcap Comparison Framework (AMCF) oracle provides the fail-safe mechanism on which the entire protocol is based.
Stablecoins are the medium of exchange that powers decentralized finance (DeFi). AugmentLabs claim centralized Stablecoins do not have defenses to withstand third-party risks, while major algorithmic Stablecoins fail during periods of coercion due to attacks, exacerbated by bank runs.
“The key feature of the AMCF oracle is that it is designed to make the Stablecoin protocol anti-fragile and maintain stability, with the ability to stop minting/burning in case of coercion and to limit USC’s supply based on usage,” says an AugmentLabs spokesperson. This ensures the sustainability and survival of the algorithmic Stablecoin ahead of all its competitors and predecessors.
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AugmentLabs’ decentralized Stablecoin system consists of two components: the AGC token, which works as collateral and DAO, and the USC, which is the algorithmic Stablecoin.
AugmentLabs has been working on the concept since 2017 as an international team of cryptocurrency experts have spent five years researching and running data models on top Stablecoins before establishing a DAO. With every failure observed in the industry, AugmentLabs’ DAO strengthened the protocol design.
The firm aims to establish USC as the top and premier, decentralized Stablecoin algorithm of the entire cryptocurrency space by 2025. They plan to achieve this through the aggressive construction of use cases, combined with robust and sustainable design with fail-safe processes.
Source link: AugmentLabs DAO Launches World’s Most Advanced Algorithmic Stablecoin (prnewswire.com)
