The new stablecoin will be fully integrated into the existing Bitcoin ecosystem of DeFi from the very first days of its operations. Also, it will be equipped with built-in yield generation opportunities for holders and investors in DeFi protocols., a new-gen DeFi protocol built on the top of Bitcoin , is proud to announce the launch of USDh, the first ever Bitcoin-backed synthetic dollar. Expected to be up and running in mainnet as soon as next month, USDh offers a yield of up to 25%.
Jakob Shillinger, CEO of Hermetica, highlights the paramount importance of the USDh release for the entire Bitcoin ecosystem: This novel financial product benefits from the robustness of Bitcoin-backed security, allowing for a seamless, lucrative interaction with digital assets.The protocol's vision and realization is supported by Two Prime, a leading SEC-registered institutional asset manager and early backer of Hermetica.
We have thoroughly analyzed the existing market and know Hermetica and Two Prime can deliver the first Bitcoin-backed synthetic dollar with strong yield, institutional risk controls, and superior collateral management We are excited to partner with Hermetica to bring these products to the Bitcoin ecosystem.
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