CJ - Cryptocurrency Specialist
Ergo, a next-generation smart contract platform, offers a stablecoin solution in a market where stablecoins are a prominent player. SigmaUSD protocol (SigUSD) is a crypto-backed, algorithmic stablecoin that is decentralized. It's totally on-chain and non-custodial, which means trust concerns and backdoor manipulations aren't an issue.
SigUSD also includes a crypto reserve to safeguard its worth. It receives funding from two sources: users who trade ERG for SigUSD and users who trade ERG for the reserve token. This ERG pool aims to over-collateralize the stable asset SigUSD and absorb ERG's unpredictability. It is specifically collateralized to the tune of several hundred percent, and token holders can readily see the reserve ratio to assess the risk of owning it. Users and investors may be certain that the value of SigUSD will be preserved in circulation.
The SigUSD's technology instils trust and removes the worry of financiers investing in cryptocurrency, especially stablecoins. The recent occurrence in the LUNA network, which saw the price of two well-known tokens (LUNA and UST) plummet, shattered the market. As a result, FUD is growing among crypto assets, particularly stablecoins. The Ergo network, which uses the SigmaUSD protocol, is attempting to reverse this tendency. Aside than SigUSD, there are a few other stablecoins on the market. Stablecoins such as the BUSD, USDC, and USDT  are available on the market. As a result, despite the technology underlying these cryptos, it is up to investors and traders to decide what is best for them.
Furthermore, market volatility and extreme fluctuations are common in the crypto world. As a result, it is advised that investors and consumers conduct their own research before making any crypto market investments.
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