It is rumored that it will launch its own stablecoin. Near Protocol (NEAR) These rumors were confirmed by The Block and NEAR’s A stablecoin named USN was declared to be released.
First reported that NEAR will issue stablecoins Zoran Kole, founder of popular Telegram group Crypto Insiders threw it out.
Zoran Kole, on April 20 of Near Protocol “USNHe said that he will launch his own stablecoin named ”.
“On April 20, Near will launch its native algorithmic stablecoin, USN.”.
The stablecoin that NEAR will issue will be pegged to the US dollar and to Terra (LUNA) Similarly, it was stated that the supply of NEAR will be reduced by using the token burning mechanism.
Zoran Kole also Near Protocol He claimed that the USN stablecoin will generate approximately 20% annual returns.
This yield to NEAR expected to increase demand.
Stating that the launch of the USN stablecoin will lead to a comparison of Near and Terra, Zoran Kole claimed that NEAR will be listed on the Coinbase exchange.
“Also, Near will be listed on the Coinbase exchange in the next few months, which will help increase its retail visibility like never before.
This listing will also pave the way for NEAR NFTs to be integrated into Coinbase’s upcoming NFT marketplace.”
It recently raised $350 million in a funding round led by Tiger Global. NEAR Protocol (NEAR) According to CoinMarketCap data, it ranks 16th by market cap and is trading at $18.87.
*Not investment advice.