Hermetica Unveils a 5% USDh Yield for Traders on Velar's PerpDEX
In Brief
Through their partnership with Velar, Hermetica provides stablecoin yield opportunities for users trading on Velar's PerpDEX, enabling them to take part in Bitcoin perpetual futures while benefiting from a 5% yield on USDh collateral.
Bitcoin-backed stablecoin issuer Hermetica has revealed a partnership with Velar This initiative marks the first opportunity for users to earn stablecoin yields while trading Bitcoin perpetual futures on Velar's PerpDEX—a decentralized exchange built atop the Bitcoin Layer 2 network, Stacks.
Jakob Schillinger, CEO of Hermetica, remarked to Cryptocurrencylistings, \"The ability for traders on Velar's PerpDEX to earn passive income on their collateral marks a significant advancement. This illustrates the effectiveness of DeFi composability, enhancing user experience in futures trading on a Bitcoin DEX compared to centralized platforms.\"
Velar's PerpDEX facilitates leveraged futures trading on Bitcoin Layer 2 networks like Stacks. The introduction of this yield generation feature for USDh holders gives traders a fantastic opportunity to grow their digital assets while engaging in Bitcoin trading activities. They receive weekly USDh yields, creating a passive income stream whilst participating in leveraged Bitcoin futures trades.
This novel feature of earning USDh yields on Velar's PerpDEX significantly boosts capital efficiency, enabling users to maximize their collateral's potential and generate further returns. As a result, it broadens the possibilities within the ever-evolving decentralized finance (DeFi) landscape of Bitcoin.
USDh: The Premier Bitcoin-Backed Yield-Generating Stablecoin
Hermetica's USDh stands out as the first synthetic dollar backed by Bitcoin that offers yields. It enables Bitcoin enthusiasts to earn an annual percentage rate (APR) on their stablecoins while actively participating in various DeFi activities related to Bitcoin, including trading. integration Teaming up with Velar, traders on the PerpDEX can take advantage of either long or short positions on BTC while simultaneously reaping benefits from the yield generated by their stable collateral.
Mithil Thakore, CEO of Velar, expressed in a formal announcement, \"The launch of the first Bitcoin-native PerpDEX featuring the sBTC/USDh pairing is a monumental advancement for Bitcoin DeFi. With USDh, traders not only access leveraged trading options but can also earn a 5% yield on their collateral, providing a truly innovative experience within the Bitcoin trading sphere.\"
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