Join today to get full access to our basics to advance crypto courses, exclusive insights, research & analysis.
Altcoin

NEAR Protocol to launch its native stablecoin USN this month

08 Apr 2022 : 08:20
2 min read
  • NEAR Protocol is reportedly planning to launch its own highly-talked native algorithmic stablecoin, USN on April 20.
  • Zoran Kole said that Near has partnered with several well-capitalized stablecoins for the same.
  • USN would reportedly offer an "extremely attractive" annual interest rate of around 20%.

NEAR Protocol is reportedly planning to launch its own highly-talked native algorithmic stablecoin, USN, in the coming days.

Zoran Kole reveals the launch of USN

In a blog post, “The Future is NEAR,” the founder of the popular Telegram group ‘Crypto Insiders,’ Zoran Kole, revealed that Near Protocol is going to announce the launch of its stablecoin USN as early as April 20.

Though there has been no official announcement regarding the launch date and details of the upcoming stablecoin, Kole said that Near has partnered with several well-capitalized stablecoins and will offer an “extremely attractive” annual interest rate of around 20%. USN is modeled on TerraUSD or UST.

Kole believes that the solid modeling and design of the stablecoin will siphon the Near ecosystem’s total value locked from other alternative layer-one protocols.

Moreover, he also revealed that Near would soon be listed on exchange giant Coinbase, which will boost its retail visibility. Kole connected this with the possibility of Near NFTs getting integrated into Coinbase’s upcoming NFT marketplace.

Kole went on to argue that Near Protocol was superior to both Ethereum and Terra, citing data from Electric Capital that outlined Near Protocol’s substantial development growth. Notably, NEAR Protocol is software that aims to incentivize a network of computers to operate a platform for developers to create and launch decentralized applications. 

Is NEAR the future?

Favoring pragmatism over perfection, Near possesses multiple catalysts that make it a “fundamentally attractive investment.” Recently, as Cryptonary reported, the company raised $350 million in a funding round led by Tiger Global, which only adds to the stellar list of venture capital giants supporting the Near ecosystem. 

Kole also outlined a report by Messari, which claims that Near is the third-most commonly held asset by crypto funds as of the third quarter of last year.


About Author

Anisha Pandey

More articles by this author

A writer, an artist, an engineer, and a girl with a colorful mind, Anisha believes in achieving results smartly and diligently.

Post a Comment

GET YOUR CRYPTO DAILY BRIEF

Delivered daily, straight to your inbox.