The Hermetica DeFi company announced the launch in early June of the first synthetic dollar USDh backed by Bitcoin.

It is the “first stablecoin backed by Bitcoin, to the DeFi ecosystem. This innovation allows bitcoiners to hold dollars, earn significant returns, and remain fully integrated into the Bitcoin ecosystem without having to withdraw funds via cryptocurrency-to-fiat off-ramps.”

The potential return in the target market is 25 %. In addition to allowing income generation for traders and investors who participate in DeFi platforms.

In the announcement about this first stablecoin backed by Bitcoin, it can be seen that it was designed for the L1 of Bitcoin and there will be L2 platforms.

Jakob Shillinger, CEO of Hermetica, stated: “I am delighted to address some of the important issues affecting the Bitcoin (BTC) community today. In the near future, you will have the opportunity to own dollars without inflationary worries while staying away from the conventional banking system. No banks, no fiat money – just Bitcoin and a stablecoin anchored to the world’s strongest asset (BTC). This configuration guarantees the most unbreakable security in the Blockchain (Bitcoin) itself.”

Introducing USDh 🎉

The first Bitcoin-backed, yield-bearing synthetic dollar.

🔸 Backed by #Bitcoin – not banks
🔸 Earn up to 25% yield
🔸 Native to Bitcoin L1 and L2s

Join the revolution now🧵👇 pic.twitter.com/lQCP3hS5Q9

— Hermetica (@HermeticaFi) May 6, 2024

M.Pino

Source: monedas-rastreador.com

(Reference image source: Unsplash+, in collaboration with Ave Calvar)

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La entrada First synthetic dollar USDh backed by Bitcoin will arrive in June apareció primero en Bitfinance.

In Venezuela, the increase in the prices of goods and services accelerated inflation, which according to the Central Bank was 6.2 % in June.

The regulatory body announced the figure on Friday night, noting that accumulated inflation stood at 108.4 % and year-on-year at 404.4 %.

Despite the fact that “annual inflation until June slowed slightly to 404.4 %, below the 429.2 % in May,” the South American country maintains the highest inflation rate in the region.

According to data from the Venezuelan Finance Observatory (OVF), “estimated monthly inflation for June 2023 was 8.5 % and annualized 429 %.”

The analysis of the items in which prices increased the most includes education at 13.2 %, followed by entertainment and culture at 9.0 %; transport in 8.2 %; alcoholic beverages and tobacco in 7.1 %; miscellaneous goods and services at 7.0 %, in addition to restaurants and hotels at 6.2 %.

M.Pino

Source: finanzasdigital

(Reference image source: Unsplash, in collaboration with Charlie Harris)

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La entrada CBV reported inflation of 6.2 % in June apareció primero en Bitfinance.