Stacks has announced a groundbreaking 35% annual percentage yield (APY) for Hermetica’s stablecoin USDh, setting a new record in the Stacks DeFi ecosystem.

Stacks DeFi Ecosystem Sees New All-Time High Yield

This yield marks a significant milestone for the Stacks ecosystem and is available through Hermetica’s stablecoin USDh. The Stacks team expressed their appreciation for the Bitcoin builders who are pushing the boundaries of what’s possible on Bitcoin.

“Shoutout to the incredible Bitcoin builders on the leading Bitcoin L2 for pushing the boundaries of what’s possible on Bitcoin!”

The Bitcoin DeFi ecosystem on Stacks is thriving, with a strong focus on innovation and growth. Previously, USDh offered a yield of up to 25% when it launched on Stacks in September. With this latest offering, Hermetica’s stablecoin now provides yields of up to 35% for USDh holders.

Benefits of USDh Stablecoin

USDh is fully tied to Bitcoin, allowing users to earn yield and transact in dollars without leaving the Bitcoin ecosystem. This has led to strong demand for Bitcoin-backed stablecoins, with USDh accumulating a Total Value Locked (TVL) of over $2.3 million.

Some key benefits of USDh include:

  • Earning yield and transacting in dollars without leaving the Bitcoin ecosystem
  • Being fully tied to Bitcoin, providing a stable store of value
  • Accumulating a significant TVL, highlighting strong demand for Bitcoin-backed stablecoins

Stacks Ecosystem Updates

In addition to the launch of the 35% APY for USDh, Stacks has announced several other updates to its ecosystem. These include the launch of the Velar DEX’s new permissionless pool creation feature, which is among the first projects to bring permissionless pools on Stacks.

Furthermore, the Bitflow project on Stacks is preparing a new user interface teaser for the Layer 2 Runes Automated Market Maker, a decentralized trading protocol on a layer-2 solution built on Stacks.

Stacks has also provided an update on the ALEX Surge campaign, a round-based rewards program designed to incentivize ALEX liquidity providers to create deeper and more robust liquidity pools on ALEX.

For the latest news and updates on the Stacks ecosystem and the world of cryptocurrency and DeFi, be sure to check out Global Crypto News.

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