Euler Finance Launches New Stablecoin Maxi
Euler Finance, a decentralized finance lending platform, has announced the launch of a new hybrid token called Maxi. The development was revealed by Euler Labs, the team behind the protocol on Ethereum, on September 16th.
Key Features of Maxi
Maxi is designed to enhance capital efficiency and mitigate risks through a blend of assets and cross-collateralization. The stablecoin is backed by a variety of assets, including tokenized treasury bills, yield-bearing tokens, synthetic dollars, and fiat-backed stablecoins. Notable assets backing Maxi include Ondo Finance’s U.S. Dollar Yield (USDY) and Usual Money’s real-world asset-backed stablecoin USD0. Additionally, it includes Ethena’s synthetic dollar USDe and yield-bearing synthetic dollars sUSDe and stUSD, as well as Circle’s USDC.
Incentives for Users
Euler is also introducing an incentivization program. Users can collateralize sUSDe and USDe to earn Ethena’s sats, lend or borrow with USD0 to receive … 0 reply
0 recast
0 reaction
0 reply
0 recast
0 reaction
