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The Fantom Foundation Announces Plans to Launch a USDB Stable Digital Currency

The Fantom Foundation Announces Plans to Launch a USDB Stable Digital Currency

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Answer The Fantom Foundation Announces Plans to Launch a USDB Stable Digital Currency

The “Fantom” Foundation, which operates a private blockchain platform geared to receive DeFi protocols, decentralized applications, and enterprise applications, has designed a stable digital currency called USDB.

The digital stablecoin USDB will be the focus of many products and services offered by the “Fantom” crypto project, such as:

Bridge, Traditional Finance, Staking, xFHM, Mint USDB, USDBank.

USDB stablecoin details:

The team behind USDB presented the highlights of the new coin and told that it will unify the FHM protocol and USDB as well as generate commercial revenue for both FHM and USDB, and the team announced that the mining tool is already up and running.

Read:IHG enters the world of blockchain via VeChain

The feature is expected to receive support from several partnerships, while Yield Farming could become available through LiquidDriver.

The announcement statement said:

We will soon find ourselves with solutions in place for non-permanent loss and stable rewards.

Additionally, the team offered “TradFi” bonds with bonuses ranging from 21% to 32.5%.

At a future stage, the entire community will be invited to participate in pools that will collect the collected funds from all users to maintain the USDB peg to the US dollar.

Lending and Borrowing are other features that the team will introduce in the coming months by integrating new services into its existing systems.

FTM Impact:

The original Fantom cryptocurrency (FTM) can be said to have gone through some major turmoil over the past year.

Read:About 48 hours after the launch… Users of the new project are losing their cryptocurrency forever due to a software vulnerability

12 months ago, its dollar value settled around $0.43, while it is now trading at $1.47.

However, its current price level is still far from its all-time high of around $3.50 recorded in January 2022.

Read also:

Crypto project Terra buys another 2,943 Bitcoin to build its stablecoin reserve UST

Ethereum Trading Volume Approaching Bitcoin… Will Ethereum Lead the Next Bull Run?


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