The Block learned of a stablecoin release by the NEAR Protocol platform

The asset appeared on Ref Finance’s testnet website, but this does not guarantee its official release

08.04.2022 - 15:10

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What’s new? NEAR Protocol will release its own stablecoin called USN. This is reported by The Block, citing an anonymous source.

Information on The Block’s website

How did events develop? On April 7, Zoran Kole, founder of Zorax Capital, stated in a post on Substack that NEAR Protocol is launching a stablecoin that will offer 20% yield.

A post on Twitter appeared, revealing that the test version of the second-largest decentralized exchange on NEAR Ref Finance has a stablecoin. The user interface on Ref Finance’s testnet website displays USN in the stableswap section along with other popular assets such as USDC, USDT, and DAI. This may indicate that the stablecoin is being tested, but does not guarantee its official release.

Source: Twitter.com

What is known about NEAR? NEAR Protocol is a scalable blockchain for decentralized applications. On April 7, it raised $350 million in a funding round. It was led by Tiger Global, with Republic Capital, Hashed, FTX Ventures, and Dragonfly Capital also participating.

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