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DeFi Blockchain Fantom Adds Stablecoin USDB to Its Ecosystem

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Fantom Foundation has unveiled a stablecoin USDB with a Bridge, Traditional Finance, Xfhm, staking, Mint USDB, and USBBank features.

Source: Twitter

FTMUSD is down -0.61%

USDB features a unification between the FHM Protocol and the stablecoin in what will be called Balance. Balance has gone live and will generate business revenue for FHM and USDB.

The new feature will have farming on a LiquidDriver, and the project team expects to get support from various partnerships.

Fantom Foundation has also launched TradFi bonds with yields between 21% to 32.3% and aims to have the whole community participate in pools that will maintain the USDB’s peg.

The team also expects to add lending and borrowing functions in the coming months by including new services in the current ones.

Fantom’s FTM token has been facing volatility lately, with the price trading around $1.42 compared to the previous ATH. The trend is partly attributed to the announcement of the exit of its key developer Andre Cronje.

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