L1 public chain Somnia announces the launch of the ecosystem stablecoin USDso
According to ChainCatcher, L1 public chain Somnia has announced the launch of its ecosystem stablecoin USDso, which is issued and operated by the decentralized stablecoin protocol Frax Finance based on the frxUSD architecture.
USDso adopts an over-collateralization model, with assets such as US Treasury bonds serving as reserve backing, and can be minted 1:1 with assets like USDC. Its profit distribution mechanism channels reserve income back into the ecosystem, with 90% allocated to DeFi protocols and 10% used for an insurance fund. This stablecoin is designed to serve high-frequency trading, DeFi, and on-chain protocol scenarios.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Founder Who Sold All His Ethereum (ETH) Holdings in May and Bought Altcoins: His Current Profit-Loss Status Revealed
Monnalisa calls shareholder meeting on proposed Euronext Growth Milan delisting
Vidac Pharma’s Dr. Max Herzberg, board member, sells shares worth EUR 149
British Pound climbs as USD fades, Hormuz risk keeps Fed in play
Crypto prices
More
