How to develop Concordium Stable Coin?

Well, I want to know about the way to make stablecoins in Concordium.
I want the stablecoins that based on algorithm pegged.
Anyone who knows it, please DM me.
TELEGRAM is @Artemis107.
SKYPE is live:.cid.884a363e22cf55dd
DISCORD is Eugine Fizzerbert#5567


Hello, and thank you for reaching out to Concordium Tech Support.

We will get you back shortly.


Concordium Tech Support

Hello euginefizzerbert

We discussed that you are asking with on of my colleague, and we came to the following conclusion, even though we are not experts with pegged stablecoins:

An algorithm pegged stablecoin sounds like, you want to build something similar to what existed on LUNA/TERRA, that recently resulted in a big crash.

People need to understand that a stablecoin only works, if there is enough funds available to ensure, that they can peg their token to e.g. with USD dollar (with no funds, they cannot really claim they have created or want to create a stablecoin).

This pegging algorithm that you want to develop is not part of the core Concordium blockchain, meaning a pegging algorithm is smart contract logic, that you need to develop/code based on the specification you want to have. The best way to go for, is probably looking into other stablecoins (on other chains) to study the pegging algorithm and then implement a similar logic in a Concordium smart contract.

Concordium Tech Support

Just to follow up, which flow you were using V0 or V1?
The V1 flow been restored this morning, please double check if it is working now, or there is something else that is not functioning.