As a seasoned crypto investor with a knack for finding promising projects, I find myself quite intrigued by Stacks’ latest announcement. A 35% annual percentage yield on Hermetica’s stablecoin USDh is an enticing proposition, especially when considering its ties to Bitcoin.
Stack’s recent announcement reveals that they will introduce a 35% yearly return rate for Hermetica’s stablecoin USDh, establishing a new milestone within the Stacks Decentralized Finance (DeFi) environment.
On December 9th, Stacks, a Bitcoin layer-2 scaling solution, announced the launch of an impressive 35% annual return on its DeFi platform. This exceptional yield sets a new record for the Stacks (STX) ecosystem and can be earned by using Hermetica’s stablecoin, USDh.
A big salute to the amazing innovators working on the forefront of the top Bitcoin Layer 2 solutions, for consistently challenging and expanding the limits of what can be achieved with Bitcoin!” (said by the official Stacks account in their post.)
The Defi environment based on Bitcoin on Stacks is flourishing with vigor ❤️
— stacks.btc (@Stacks) December 7, 2024
Initially, USDh provided returns as high as 25% upon its launch with Stacks in September. However, in the latest development, the yield offered by Hermetica’s stablecoin has been increased, offering USDh holders potential returns of up to 35%.
Because USDh is directly linked to Bitcoin, it empowers users to generate returns and carry out transactions in dollars all within the Bitcoin network. Currently, USDh boasts a Total Value Locked surpassing $2.3 million, underscoring robust interest in stablecoins backed by Bitcoin.
According to crypto.news’ earlier report, Bitcoin concluded its week at approximately $103,900.47 and finished daily trading at around $101,236.01. This is the first instance where Bitcoin has closed above the $100,000 benchmark.
Moreover, Stacks has introduced a new feature for the Velar DEX that allows for the creation of permissionless pools. This makes it one of the pioneering projects to implement permissionless pools on Stacks, following in the footsteps of Charisma.
The Bitflow initiative working with Stacks is developing an enticing sneak peek of the user interface for the upcoming Decentralized Trading Protocol called the Layer 2 Runes Automated Market Maker, which operates within a layer-2 solution constructed on Stacks.
In conclusion, Stacks recently shared news about the ALEX Surge campaign, a scheme that offers recurring rewards to encourage ALEX liquidity contributors to establish stronger and more extensive liquidity reserves within the ALEX platform.
Read More
- AI16Z PREDICTION. AI16Z cryptocurrency
- POL PREDICTION. POL cryptocurrency
- Crypto ETPs hit $44.5b in YTD inflows amid Bitcoin surge
- Hong Kong Treasury says crypto is not a ‘target asset’ for its Exchange Fund
- Li Haslett Chen to Leave Warner Bros. Discovery Board
- EXCLUSIVE: Alia Bhatt in talks with Dinesh Vijan for a supernatural horror thriller; Tentatively titled Chamunda
- Springfield man is convicted for using crypto to finance ISIS operations
- Blockaid new dashboard to track Web3 activity and threats
- SEN PREDICTION. SEN cryptocurrency
- Shiba Inu, Bonk, Pepe prices rebound: Beware of dead cat bounce
2024-12-09 17:12