Jupiter
$0.2028
, a decentralized finance (DeFi) platform constructed on Solana, has launched JupUSD, a stablecoin tied to the US greenback.
The undertaking was developed in partnership with Ethena Labs and is issued immediately on the Solana
$137.89
blockchain.
In response to a put up on X by Jupiter, about 90% of JupUSD’s reserves might be held in USDtb. USDtb is a licensed stablecoin backed by shares of BlackRock’s tokenized money-market fund, BUIDL.
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Copy Buying and selling Information for Newbies (ANIMATED EXAMPLES)
The opposite 10% might be stored in USDC
$1.00
to offer liquidity, with extra help from a pool on Meteora.
JupUSD is an SPL token, which is the usual format for tokens on Solana. This enables it to work simply with different Solana-based purposes.
Jupiter said that the reserves are held by Porto and Anchorage Digital, with on-chain verification accessible to the general public.
Inside Jupiter’s lending product, customers can deposit JupUSD to earn a yield. This yield-bearing token continues to earn returns even when used for options corresponding to restrict orders or automated dollar-cost averaging (DCA).
Jupiter additionally plans so as to add JupUSD to its perpetual buying and selling platform, which can finally change USDC as the primary collateral and liquidity asset.
For establishments and market makers, JupUSD helps direct on-chain minting and redemption in opposition to USDC in a single transaction on Solana.
Ethena Labs, the corporate behind the Ethena protocol and the issuers of USDe and USDtb, will handle JupUSD’s reserves.
StraitsX, a fee firm regulated by the Financial Authority of Singapore (MAS), just lately introduced plans to launch its XSGD and XUSD stablecoins on the Solana blockchain. What did the corporate say? Learn the complete story.
