Hermetica's Rune-Based Stablecoin and Points System Reinforces Bitcoin Position

IconCryptoNewsTerminal Staff16 Jul, 2024

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Hermetica's Rune-Based Stablecoin and Points System Reinforces Bitcoin Position

Hermetica, the platform issuing the synthetic Bitcoin pegged to the US dollar (USDh), announced the launch of a stablecoin called USDH, as well as a points system that relies on Bitcoin backing. Users can deposit the USDH rune-based stablecoin on Hermetica in order to earn the yield that the corresponding BTC short perpetual futures position generates, as well as Hermetica Points. This launch is a significant step for Hermetica, as it strengthens the utility of USDh, attracting a broader user base, and enhancing the platform's overall offerings. As USDh is a rune-based stablecoin, it further increases interoperability, allowing for seamless integration with various applications within the Thorchain ecosystem. The points system, backed by Bitcoin, adds another layer of stability and value to the Hermetica platform. By leveraging the robust fundamentals of Bitcoin, Hermetica aims to provide users with a secure and reliable financial ecosystem.

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