Real-world assets continue to garner adoption in web3, with a cohort of newly-launched stablecoins leveraging on-chain treasuries to support their value.
On Nov. 14, Verified USD Foundation launched USDV, a fully-collateralized stablecoin backed by tokenized U.S. treasury bills. USDV’s collateral is fully composed of Matrixport Short-term Treasury Bill Tokens (STBT).
STBT allows holders to earn yields derived from Treasury Bills on-chain and leverages the ERC-1400 security token standard to facilitate direct payouts to accredited investors. Matrixport estimates STBT is generating an annual percentage yield (APY) of 4.9% for holders based on a seven-day performance. However, USDV will exclusively distribute yields to token minters.
To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
#undefined [Source: TheDefiant]