Injective

Mountain Protocol

Injective Labs announced today the integration of Mountain Protocol, bringing the first native yield-bearing stablecoin, USDM, into the Injective ecosystem. This strategic move allows users to leverage USDM across various decentralized applications (dApps) on Injective while earning yield from treasury bills.Mountain Protocol, launched in 2023 and backed by Multicoin Capital, Coinbase Ventures, and Castle Island Ventures, introduces USDM as the first permissionless yield-bearing stablecoin. Unlike traditional stablecoins, USDM offers users a 5% yield on their holdings through rebasing, where users receive daily interest automatically.<h2 id="header-0">Seamless Integration with Injective</h2>According to <a href="https://blog.injective.com/en/injective-integrates-mountain-protocol-to-power-tokenized-t-bills/" rel="noopener noreferrer nofollow">the firms’ report</a>, USDM will be bridged into the Injective ecosystem as wUSDM, a wrapped version that includes the yield in its price, eliminating the need for rebasing. This wrapped version will reflect the current USDM price, providing users with a seamless experience and a consistent 5% annual yield. Users can unwrap wUSDM back to USDM, maintaining the accrued yield.The integration of USDM into Injective enables various new use cases. Notably, USDM can now be used as a margin for trading derivatives on decentralized exchanges (DEXs) built on Injective. This allows traders to earn yield while trading, enhancing capital efficiency and passive yield generation. For instance, users trading with USDM on platforms like Helix can participate in on-chain markets, such as BTC/wUSDM Perp, while still earning yield.\The collaboration between Mountain Protocol and Injective marks a significant development in the evolution of asset tokenization. This partnership bridges the gap between traditional finance (TradFi) and decentralized finance (DeFi), creating a seamless pathway for users to interact with both financial models. Integrating a regulated, yield-bearing stablecoin like USDM enhances Injective’s tokenized offerings, reinforcing its position as a <a href="https://blockchainreporter.net/blockchain/" rel="noopener noreferrer nofollow">blockchain </a>built for finance.

Injective Integrates Mountain Protocol to Power Tokenized T-Bills

Indice dei contenuti

BlockchainReporter

Altri articoli pubblicati su 24 lug 2024

This New Ethereum Token Set To Be A Leader In Gaming Sector; Potential To Mimic 10000x AXS and GA...

XRP and Celestia Trade Green, But Raboo Steals Spotlight With 20% Flash Sale!

Record Prediction from the CEO of the Company That Broke a First in Bitcoin! "BTC Will Reach This...

Ethereum ETFs Launch with Strong Volume; Traders Expect New ATHs Above $3,730 Soon

Optimism (OP) Sees Resurgence in NFT Trading Activity as Price Eyes $2

Ethereum ETFs Exceed Expectations: Trading Volume Hits $1 Billion, Market Reacts

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!