USN algorithmic stablecoin launched on the NEAR network
The asset will be used to support NEAR-based decentralized projects
26.04.2022 - 10:30
368
2 min
0
What’s new? The Decentral Bank DAO team has announced the release of an asset on the basis of the NEAR protocol. In question is a USN algorithmic stablecoin. Users can issue the asset using the NEAR web wallet and swap between USN and USDT.
What else is known about the asset? USN is an algorithmic stablecoin, backed by the NEAR cryptocurrency. The main purpose of creating USN is to support the development of a DeFi ecosystem based on the NEAR protocol. The return on the asset will be around 11% per annum, the exact value will depend on the staking interest and the value of the assets for collateral.
What had happened before? Information about the possible launch of the USN stablecoin first emerged on April 7. Zorax Capital founder Zoran Kole said in a post on Substack that NEAR Protocol is launching a stablecoin that will offer a 20% yield.
NEAR Protocol is a smart contract platform through which developers can create decentralized applications (dApps). NEAR was launched in 2020. More details about the project can be found in GetBlock Magazine’s review.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 910
BTC
+0.85%
-
Ethereum
$3 342.86
ETH
+5.27%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.47
XRP
+31.23%
-
Dogecoin
$0.394237
DOGE
+2.53%
-
Cardano
$0.904869
ADA
+14.61%
-
Bitcoin Cash
$489.84
BCH
-6.12%
-
Stellar XLM
$0.297617
XLM
+24.44%
-
Polkadot
$6.15
DOT
+6.98%
-
Litecoin
$91.86
LTC
+1.78%