APR Over 200%? 'DeFi Old King' AC Ventures into Algorithmic Stablecoins
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APR Over 200%? 'DeFi Old King' AC Ventures into Algorithmic Stablecoins
A new stablecoin, possibly called musd, appears to generate returns partially from Sonic staking scenarios.
Navigating Web3 tides with focused insightsWritten by: Azuma, Odaily Planet Daily
Andre Cronje (AC), veteran DeFi pioneer and co-founder of prominent projects such as Sonic, Yearn, and Keep3r, is entering the algorithmic stablecoin arena.
On March 21, AC first revealed his thoughts on the project via his personal X account, stating that his team had achieved a technical breakthrough in the field of algorithmic stablecoins. However, events from previous market cycles had left him with "post-traumatic stress disorder" (PTSD), making him uncertain about whether to proceed with the plan.
Algorithmic stablecoins represent a highly innovative opportunity—offering vast potential market size, elegant mathematical design, and conceptual alignment with the original spirit of cryptocurrency—which has long attracted numerous industry "geniuses." However, since the collapse of Terra (UST), the sector's reputation has suffered greatly… This explains why AC referenced being haunted by past trauma in his initial post.
Yet this time, it’s AC stepping in—the man once hailed as the "King of DeFi." After he expressed interest in launching the project, while some users voiced opposition, many more responded with support and anticipation.
On March 22, AC reposted his initial message with a simple "Yolo" (an acronym for "You Only Live Once," encouraging bold action in the moment), signaling he may have made up his mind to move forward.
On March 23, AC disclosed further details about the project, sharing a screenshot showing interactions between the new algorithmic stablecoin—possibly named minimal usd (mUSD), though not yet confirmed—and multiple smart contracts. He also stated: “At $10 million TVL, APR exceeds 200%; at $100 million TVL, APR is around 23.5%; when TVL surpasses $1 billion, APR stabilizes at approximately 4.9%.”
AC also officially confirmed plans to assemble a team to fully launch the project.
(This part is pure speculation) Although there is still no official documentation about the stablecoin as of publication, based on the screenshots shared by AC, the system appears to involve Sonic’s native token S and the liquidity derivative token stS (issued by Beets). This suggests the stablecoin may be tied to the Sonic network in some capacity, with yields likely derived from staking rewards within the Sonic ecosystem.
Some industry professionals have raised concerns regarding the yield figures presented by AC.
Eric Forgy, founder of CavalRe, commented: “I was skeptical about this project before. Now I’m convinced it’s flawed. Looking forward to seeing detailed information. Happy to conduct a review before mainnet launch.”
In response, AC fired back sharply: “After seeing one screenshot without any operational context, you dare say you’re ‘convinced’??? You clearly know nothing—get out of my comments.”
Unfortunately, we currently lack full visibility into the specific architecture of this algorithmic stablecoin. Nevertheless, expectations remain high—AC is clearly preparing to unveil another groundbreaking experiment.
Since the last DeFi cycle faded into silence, AC had largely gone quiet. But with Fantom’s rebirth as Sonic, his entrepreneurial drive seems rekindled. Today, he ranks among the most active founders on X, consistently posting, commenting, and sharing content daily.
Besides Sonic and the algorithmic stablecoin mentioned above, AC also appears to be developing a high-leverage derivatives exchange called flyingtulip, aiming to compete with the rapidly growing Hyperliquid.
A new cycle, a new narrative—let’s watch together whether AC can replicate and even surpass his former self.
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