Fantom announced the launch of the USDB stablecoin

Balance, a new organization, will be the issuer of the USDB

30.03.2022 - 10:45

275

1 min

What’s new? Fantom, a DeFi platform, has announced the launch of its own algorithmic stablecoin called USDB. The project’s representatives revealed details of the launch on its official Twitter account.

Source: Twitter.com

What is known about the new asset? A new organization, Balance, has been established to issue the stablecoin, which includes the representatives of the Fantom DAO. In the near future, stablecoin owners will have access to features such as profitable farming, liquidity pools, staking, as well as the provision of loans in cryptocurrency. The material remunerations are available for the developers and early adopters. USDB will be issued by burning the FantOHM (FHM) token.

Fantom is a decentralized blockchain platform for smart contracts. The Fantom ecosystem is used by projects such as Aave, Curve, and yEarn. As of March 2022, Fantom ranks 6th in the list of the blockchain platforms in terms of blocked funds ($6,59 billion according to DefiLlama).

Author: