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Jupp
$0.2028
a decentralized finance (DeFi) platform constructed on Solana, has launched JupUSDa stablecoin tied to the US greenback.
The challenge was developed in partnership with Ethena Labs and is issued instantly on the Solana
SOL
$138.12
blockchain.
In accordance with a submit on X by Jupiter, about 90% of JupUSD’s reserves will likely be held in USDtb. USDtb is a licensed stablecoin backed by shares of BlackRock’s tokenized money-market fund, BUIDL.
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The opposite 10% will likely be saved in USDC
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 permits it to work simply with different Solana-based purposes.
Jupiter acknowledged that the reserves are held by Porto and Anchorage Digital, with on-chain verification obtainable 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 resembling restrict orders or automated dollar-cost averaging (DCA).
Jupiter additionally plans to add JupUSD to its perpetual buying and selling platformwhich is able to finally substitute USDC as the primary collateral and liquidity asset.
For establishments and market makers, JupUSD helps direct on-chain minting and redemption towards 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), lately introduced plans to launch its XSGD and XUSD stablecoins on the Solana blockchain. What did the corporate say? Learn the complete story.
