Stablecoin

Mountain Protocol

Injective

Multicoin

Daily

<ul>
 <li>Injective integrates Mountain Protocol, introducing USDM, a native yield-bearing stablecoin backed by Treasury bills.</li>
 <li>USDM offers a 5% annual yield, enabling various real-world asset use cases within the Injective ecosystem.</li>
</ul>
Injective has <a href="https://blog.injective.com/en/injective-integrates-mountain-protocol-to-power-tokenized-t-bills/" rel="noopener noreferrer nofollow">announced</a> the launch of Mountain Protocol on its network, introducing the first native yield-bearing stablecoin (USDM) to the Injective ecosystem. This is an important milestone since users may now use Mountain Protocol with Injective dApps while receiving yield from tokenized Treasury bills.
Mountain Protocol, which is recognized for issuing USDM, is backed by major investors like Multicoin Capital, Coinbase Ventures, and Castle Island Ventures.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 1/ Mountain Protocol is launching on Injective to bring the first native yield-bearing stablecoin (USDM) into the Injective ecosystem.
 Users can now leverage <a href="https://twitter.com/MountainUSDM?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@MountainUSDM</a> on Injective dApps while earning yield from tokenized t-bills. <a href="https://t.co/mK6tWvTfAU" rel="noopener noreferrer nofollow">https://t.co/mK6tWvTfAU</a>
 — Injective <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f977.png" alt="🥷" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@injective) <a href="https://twitter.com/injective/status/1816086342868062641?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 24, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="strong-usdm-a-unique-stablecoin-backed-by-treasury-bills-offering-daily-yield-strong">USDM: A Unique Stablecoin Backed by Treasury Bills Offering Daily Yield&nbsp;</h2>
USDM is unusual in its stablecoin structure, as it is backed by Treasury bills, providing a strong base. Unlike most other stablecoins, USDM allows users to earn and retain daily income on their holdings, with Mountain Protocol currently providing a 5% annual yield.
This integration enables a variety of real-world asset (RWA) application cases on <a style="color: #008000;" href="https://www.crypto-news-flash.com/synesis-one-expands-to-injective-boosting-decentralized-ai/" rel="noopener noreferrer nofollow">Injective</a>, increasing its utility. For example, USDM can now be used as a margin for derivatives on Injective-based decentralized exchanges (DEXs), giving traders a yield and marking the first time USDM can be used as collateral for everlasting contracts.
The collaboration between Mountain Protocol and Injective represents a new era of innovation. As traditional finance (TradFi) moves on-chain, Injective continues to shape the future of finance by pioneering new use cases for asset tokenization.
This is another big milestone for Injective, following their prior <a style="color: #008000;" href="https://www.crypto-news-flash.com/ondo-finance-joins-injective-a-new-era-for-tokenized-assets/" rel="noopener noreferrer nofollow">collaboration with Ondo Finance</a>, which created the USDY token to improve capital efficiency in Injective dApps. USDY is now widely employed in a variety of Injective-based applications, thereby increasing capital efficiency.
As we previously <a href="https://www.crypto-news-flash.com/injective-unveils-ainj-bridging-tradfi-and-decentralized-finance/" rel="noopener noreferrer nofollow">noted</a>, another notable breakthrough was the introduction of AINJ, the Injective Staking Exchange Traded Product (ETP), which aims to bridge the gap between traditional finance and decentralized finance (DeFi). AINJ is available from 21Shares, a well-known supplier of crypto ETPs.
This innovative offering exemplifies Injective’s commitment to combining traditional financial procedures with decentralized platforms.
Meanwhile, Injective’s native token, INJ, is trading at $24.61 at the time of writing, up 3.95% over the last 24 hours on a trading volume of $126.41 million.

Injective Welcomes USDM: Yield-Bearing Stablecoin Launches

Table of Contents

Crypto News Flash

Other articles published on Jul 26, 2024

What is Duko Memecoin?

Ethereum Spot ETFs Expected to Drive ETH Above $5000: Analyst

Hamilton Lane With $900B AUM Unveils SCOPE Fund on Solana

UK’s FCA Fine Coinbase UK Subsidiary

4 Best Meme Coins to Buy Now: July 2024’s Top Picks

Bitcoin Jumps to $67,000 Under Trump’s Shadow

Join our free newsletter for daily crypto updates!