Mountain Protocol is launching what it says is the first nationally-regulated, yield-bearing stablecoin called UDSM.
The ERC-20 token was designed to give non-U.S. users access to U.S. Treasury yields and can be used across a myriad DeFi protocols, Mountain Protocol wrote in a Monday in a social media"The token is fully backed by short-term U.S. Treasuries, with the difference that USDM provides users daily rewards in the form of rebasing, currently at a rate of 5% APY," Mountain Protocol added."The rebasing mechanism is very similar to Lido Finance'sUSDM is not available to U.S.
While Mountain Protocol said that stablecoins were the"unquestionable killer use-case of blockchains," it noted that risk-free yields currently around 5% are pushing users back into the traditional financial system. The total supply of Ethereum stablecoins has been declining over the past year and currently stands around $74 billion, according to The Block's Data Dashboard.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Mission: Impossible - Ghost Protocol (2011)The fifth film in the franchise, Mission: Impossible - Rogue Nation, is an action-thriller film that takes place after the events of Ghost Protocol and continues following former IMF agent Ethan Hunt and his crew. With the IMF disbanded and the crew now rogue agents, they decide to take the fight to the terrorist organization known as the Syndicate. This opposing rogue operation has recruited other agents worldwide to engage in black-ops terrorist actions, and Ethan's crew intends to shut them down.
Leer más »
Glass Protocol's Founders to Walk Away Due to Lacking Demand for Video NFTsThe founders said the protocol will remain free and accessible to all creators.
Leer más »
XRPL Protocol Tipped as Alternative to Lightning Network, Here's WhyBitcoin's Lightning Network losing steam, and Spend the Bits is being proposed as viable alternative
Leer más »
‘Terror, Terror!’ Cracked Mountain Looms Over Moroccan HomesThe earthquake was so powerful that it fractured the terrain above Taskoukte. The entire village now knows the mountain could fall on them at any time.
Leer más »
LIVE AT THE BELLY UP: Yonder Mountain String BandMonday, Sept. 11, 2023 at 9 p.m. on KPBS TV / Stream now with the PBS App. The Yonder Mountain String band takes its nomination as a Progressive Bluegrass group seriously. Of their 11 album discography, 5 are live recordings meant to reflect how swiftly their sounds evolves as a group.
Leer más »
Villagers mourn Morocco earthquake's destruction of their mountain homeMoroccans in the mountain village of Moulay Brahim grieve for neighbors who died in a magnitude 6.8 earthquake that destroyed buildings and lives.
Leer más »