#稳定币发展与监管 Reviewing the development history of stablecoins, the recent financing of Standard Money has indeed caught my interest. The concept of Algorithmic Stablecoin is not new; projects attempted it as early as 2018, but most ended in failure. The most famous case is undoubtedly the collapse of Terra/LUNA, which brought a huge impact to the entire crypto market.

However, history is always repeating itself. Seeing new projects like USDsd still able to secure large amounts of funding inevitably reminds one of the cyclical hype. Investors seem to be perpetually forgetful, ignoring the lessons of the past.

It is undeniable that stablecoins are indeed an indispensable part of the crypto ecosystem. However, we must bear in mind that any financial innovation comes with risks. Regulatory intervention may be able to constrain project parties to a certain extent, but ultimately, investors need to remain rational and vigilant.

I hope that this time Standard Money can learn from the lessons of the past and be more robust in design and operation. However, as someone who has experienced multiple bull and bear markets, I will still maintain a cautious and observant attitude. After all, in this industry, only time can prove everything.