Sonic Labs shifts from algorithmic USD stablecoin to dirham-based alternative

#SonicLabs has abandoned plans for a US dollar-pegged algorithmic #stablecoin , opting instead for a United Arab Emirates dirham-denominated alternative. The decision follows the UAE’s announcement of a #blockchain -based digital dirham set to launch in late 2025. The shift comes amid industry skepticism surrounding algorithmic stablecoins, especially after the 2022 collapse of TerraUSD #UST , which caused billions in losses.