what's USN?
USN is a decentralized stablecoin on the NEAR Protocol, launched in April 2022 by Decentral Bank, a DAO-focused organization. It maintains a soft peg to the US Dollar at a 1:1 ratio, primarily backed by USDT reserves and NEAR tokens rather than direct fiat collateral. This design allows for algorithmic stability mechanisms within the NEAR ecosystem, enabling users to mint USN directly with NEAR via the NEAR web wallet and swap it with USDT on platforms like Ref Finance's StableSwap. The protocol emphasizes over-collateralization and transparency through on-chain reserves, aiming to provide a native stable value transfer medium for DeFi applications on NEAR. Governance and operations are handled decentralizing via Decentral Bank, fostering integration across NEAR's high-throughput sharded blockchain.
sUSN offers 10.22% APY and enables 7x leverage on Morpho with 86% LLTV for collateral.
Links
x.com/dcntrlbanksUSN achieves a 7-day APY of 10.22%.
New AI bot launches with $USN rewards for quality content, featuring zkTLS verification and stackable with existing Yapper Campaign rewards.
AI-powered social rewards system launches, distributing yield-generating stablecoin to daily winners.
New sUSN pool launches on Penpie offering 48% APY in PENDLE rewards with 20x-40x Noon Points multipliers.
Penpie introduces boosted staking pool offering 18% APY and up to 80x point multipliers for USN tokens.
New USN and sUSN Pendle pools launch on Equilibria with boosted yields and point rewards.
Dual staking rewards available for USN holders through Sophon platform, earning points for two upcoming token launches.