The Stablecoin Of Near Protocol
On April 20th, the Near Protocol (NEAR) will introduce its own algorithmic stablecoin in the form of the United States dollar (USN). The news was made by Zoran Kole, the founder of Zorax Capital, in a blog post on the Substack platform, in which he revealed that the stablecoin would be launched ‘in conjunction with other well-capitalized stablecoins’.
The USN and these stablecoins, in addition, ‘will give an incredibly appealing 20 percent annual percentage rate, which will spark DeFi capital rotation into the Near ecosystem, siphoning the complete value trapped in other alternative layer-one protocols’.
Speculation about Near creating a stablecoin has been prevalent in the crypto-verse over the past few days, with one member of the community, @resdegen, observing that USN was already showing on the Ref Finance testnet. The latter is the second-largest decentralized exchange on Near, behind the aforementioned NEX.
Will $Near Double Its Marketcap?
On April 20th, the Near Protocol (NEAR) will introduce its own algorithmic stablecoin in the form of the United States dollar (USN). The news was made by Zoran Kole, the founder of Zorax Capital, in a blog post on the Substack platform, in which he revealed that the stablecoin would be launched ‘in conjunction with other well-capitalized stablecoins’.
The USN and these stablecoins, in addition, ‘will give an incredibly appealing 20 percent annual percentage rate, which will spark DeFi capital rotation into the Near ecosystem, siphoning the complete value trapped in other alternative layer-one protocols’.
Speculation about Near creating a stablecoin has been prevalent in the crypto-verse over the past few days, with one member of the community, @resdegen, observing that USN was already showing on the Ref Finance testnet. The latter is the second-largest decentralized exchange on Near, behind the aforementioned NEX.
Read Next: $NEAR is up more than 20% and is approaching its all-time high after a $350 million funding round
