{"id":94818,"date":"2024-09-25T19:28:25","date_gmt":"2024-09-25T23:28:25","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=94818"},"modified":"2024-09-25T19:31:43","modified_gmt":"2024-09-25T23:31:43","slug":"hermetica-expands-stablecoin-usdh-to-stacks-l2","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/hermetica-expands-stablecoin-usdh-to-stacks-l2\/","title":{"rendered":"Hermetica Expands Stablecoin USDh to Stacks L2"},"content":{"rendered":"\n

USDh, a stablecoin backed by Bitcoin, debuts on Stacks L2<\/a> with new DeFi features.\u00a0<\/p>\n\n\n\n

\"Hermetica
Hermetica Expands Stablecoin USDh to Stacks L2<\/figcaption><\/figure>\n\n\n\n

A big step forward for Bitcoin-based decentralized finance has been made by Hermetica by extending their stablecoin, USDh, to the Stacks Layer 2 network. <\/p>\n\n\n\n

According to a press statement, this action enables users to hold USDh, a stablecoin entirely backed by Bitcoin and indexed to the US dollar, while earning up to 25% returns. <\/p>\n\n\n\n

As opposed to other stablecoins, which are backed by bank fiat reserves<\/a>, USDh is only linked to Bitcoin. <\/p>\n\n\n\n

As a result, Bitcoin users can transact in dollars and earn income without ever leaving the Bitcoin ecosystem<\/a>.\u00a0<\/p>\n\n\n\n

USDh<\/h2>\n\n\n\n

Four months ago, USDh began to gain traction on Bitcoin's Layer 1<\/a> and garnered $2 million in Total Value Locked, indicating a high level of interest in stablecoins backed by Bitcoin. <\/p>\n\n\n\n

Hermetica hopes to reach a wider DeFi user base while preserving Bitcoin's security characteristics by venturing to Stacks, a Bitcoin L2. Stacks is a perfect platform for USDh's growth, having just been improved to allow faster block times. <\/p>\n\n\n\n

Significant decentralized exchanges incorporate USDh, expanding its application within the ecosystem, including Bitflow Finance, Velar, and Zest Protocol.<\/p>\n\n\n\n

This initiative seeks to realize the unrealized promise of Bitcoin by enabling holders to access stablecoin liquidity without leaving the Bitcoin ecosystem.<\/p>\n\n\n\n

DeFi only accounts for 1% of Bitcoin's $1.3 trillion market capitalization\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, meaning that USDh can close the value differential between Bitcoin and the growing DeFi industry.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

USDh, a stablecoin backed by Bitcoin, debuts on Stacks L2 with new DeFi features.\u00a0 A big step forward for Bitcoin-based decentralized finance has been made by Hermetica by extending their stablecoin, USDh, to the Stacks Layer 2 network. According to a press statement, this action enables users to hold USDh, a stablecoin entirely backed by […]<\/p>\n","protected":false},"author":43,"featured_media":94819,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11410],"tags":[19446,22062,19445],"class_list":["post-94818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi","tag-hermetica","tag-stacks-l2","tag-usdh"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/09\/croc_1727306050331.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/94818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=94818"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/94818\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/94819"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=94818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=94818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=94818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}