On the NEAR network launched an algorithmic stabblecoin USN
Near Protocol developers have launched the USN algorithmic stabilcoin with a binding to the US dollar and providing NEAR token token. Tao Decentral Bank will be engaged in his management.
Meet $ USN, FIRST NEAR-NATIVE STABLECOIN By Decentral Bank!
Starting Today, Users Canm USN using $ Near Through The Near Web Wallet (https: // t.CO/KC7TR4M7B8). Users cana swap between $ USN and $ USDT on @finance_ref’s stableswap. Pic.Twitter.COM/Zacqngatov
– Decentral Bank (@dcntrlbank) April 25, 2022
Binding to the course will also be provided at the expense of the reserve fund from NEAR and USDT. Its size will be determined in the future.
Users are available to USN exchange for USDT on the Ref Finance platform.
Rumors about the upcoming launch of token appeared on April 4. Then one of the users found in the interface of the Ref Finance protocol the mention of token with the corresponding ticer.
Stebblecoin will help attract additional liquidity for working Defi projects like Ref Finance, Burrow, Aurigami and Bastion.
Decentral Bank’s receipts from the NEAR stake in the reserve fund will form a minimum annual yield to Vestnik Defi: TVL USN holders. At the moment, it is ~ 11% per annum.
APY may vary depending on the volume of emission and the value of the reserve fund. The first participants will probably be able to count on 20% per annum and more. The increase in the indicator will provide monthly payments by landing protocols from the ecosystem after the vote of the participants of the Tao.
NEAR price increase over the past 24 hours amounted to 8%, according to Coingecco. This is the third result in the top 20 after Dogecoin (+29.1%) and Terra (+8.4%).
Recall that in March 2021 to Kvon, he accepted the call of users by $ 11 million, which doubted the stability of the price of LUNA, which ensures stability UST.
By mid -April, the reserves associated with the UST of the non -profit organization Luna Foundation Guard amounted to $ 2.44 billion, of which 70% fell on bitcoin. The rest – on USDT, USDC and LUNA.
Earlier UST went around Binance USD on market capitalization.
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