According to a notification made by the creators of the program on December 29, the software that generates the Vader Protocol US Dollar (USDV) stablecoin will be discontinued.

The Vader protocol was an algorithmic stablecoin network that claimed to be comparable to the Terra network, however it ultimately failed.

To guarantee that $1 is always equivalent to 1 USDV, it was intended to promote arbitrations.

Vader’s team discontinued the app’s minting functionality in May, when the value of Terra’s assets began to diverge from the value of the real-world assets they were meant to represent.

Their intention was that by doing so, they could protect consumers from any potential issues that could occur in the event that their stablecoin was also depegged.

According to members of Vader’s team, they spent the next six months searching for a method to improve the software to make it less dangerous.

However, after much research and discussion, the group came to the conclusion that there has been no significant progress in developing a capital-efficient algorithmic stablecoin.

They have temporarily disabled the burn feature, which means customers can no longer deposit any of their remaining USDV into the app to be backed up via the standard redemption procedure.

Instead, the app authors have created a redemption gateway for users to access the rest of the app’s treasure trove.

They want to continue to make that redemption software accessible during the month of June.

The developers divided up the liquidity pools of Curve and Uniswap and took snapshots of existing shares to ensure a fair distribution of cash. This allows developers to release the remaining money to cryptocurrency holders.

Since it appears that Vader Protocol USD has been removed from all major coin price data fees, it is unclear if USDV holders would get back $1 worth of crypto for each coin or some other amount that is less than $1.