CandleFocus Paxos Launches Yield-Bearing Stablecoin on Injective
2024-10-17
Author: Content Editor
Paxos has announced the launch of a yield-bearing stablecoin, Wrapped Lift Dollar (wUSDL), on the Injective platform. The stablecoin, pegged 1:1 to the US dollar, provides daily returns to holders and is backed by reserve assets such as US Treasury bills. Users can earn returns while using decentralized finance protocols on Injective, including derivatives trading, money markets, and lending. The wUSDL token can also be converted back to Lift Dollar on Ethereum. This launch helps to further establish Injective's presence in the tokenized asset market.
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