Bitcoin-Backed Synthetic Dollar Promises High Yields for DeFi | DeFi Updates

Bitcoin-Backed Synthetic Dollar Promises High Yields for DeFi Users

Jakob Schillinger, founder and CEO of Hermetica, believes USDh will be a game-changer for Bitcoin DeFi. It will allow users to earn interest on their dollar holdings without leaving the Bitcoin network or relying on traditional financial institutions. This functionality caters specifically to Bitcoin enthusiasts who may be hesitant to venture outside the Bitcoin ecosystem. Hermetica is a DeFi protocol built on the Stacks blockchain, a layer-one solution designed to bring smart contract functionality to Bitcoin.

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@DeFi_Updates