Meet YLDS: The Stablecoin That Pays You to Hold Your Breath! 😲💰

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In a world where digital assets frolic like mischievous sprites, Figure Markets has unveiled YLDS, the first yield-bearing stablecoin to don the illustrious badge of SEC registration, as if it were a medal of honor bestowed upon a particularly well-behaved dog. 🐶

This stablecoin, birthed through the esteemed Figure Certificate Corporation, prances upon the Provenance Blockchain, promising its holders an annual return that dances at the Secured Overnight Financing Rate, minus a mere 50 basis points—because who doesn’t love a little subtraction in their financial affairs? 📉

Ah, but the magic doesn’t stop there! YLDS accumulates interest daily, like a diligent squirrel hoarding acorns, and distributes its bounty monthly in either U.S. dollars or YLDS tokens. It’s like a monthly subscription service, but instead of receiving artisanal cheeses, you get cold, hard cash! 🧀💵

Backed by securities akin to those found in prime money market funds—because who doesn’t want their digital currency to have a respectable pedigree?—this token supports peer-to-peer transfers and can be exchanged for U.S. dollars or other stablecoins at any time, with fiat off-ramps available during U.S. banking hours. Yes, folks, you can finally cash out your digital dreams! 💭💸

Stablecoins have ballooned into a $200 billion asset class, strutting their stuff in payments and cross-border transactions like they own the place. Meanwhile, the likes of USDT and USDC sit idly by, not distributing yield from their reserve assets, which are primarily U.S. Treasuries—how quaint! 🏦

This has paved the way for the rise of tokenized money-market funds and investment products, such as BlackRock’s BUIDL, Franklin Templeton’s BENJI, and Ethena’s USDE. These assets are increasingly used as collateral or to earn returns on blockchain-based holdings, proving that even in the digital realm, one must keep up with the Joneses! 🏡

Figure Markets transactions

Figure Markets, the digital asset division of Figure Technologies, was co-founded by the illustrious Mike Cagney, a former SoFi CEO. This firm has processed over $41 billion in blockchain-based transactions, which is a number so large it makes one’s head spin faster than a top on a marble floor! 🎡

In October 2023, Figure Markets filed with the SEC to launch its yield-bearing stablecoin, because why not add a little more excitement to the already thrilling world of finance? 🎢

The company anticipates that YLDS will be embraced by developers eager to integrate blockchain-based assets into decentralized finance and payment applications. “We see tremendous applications for YLDS,” Cagney proclaimed, as if he were announcing the arrival of a new messiah. “Exchange collateral, cross-border remittances, and payment rails are immediate opportunities, but this is just the beginning of a larger shift of traditional finance to blockchain.” And who wouldn’t want to ride that wave? 🌊

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2025-02-20 21:35