USDh by Hermetica, a Popular USD-pegged Stablecoin and the First-ever Synthetic Dollar Backed by BTC as a Security Layer, Announces Its Release on Stacks, the Most Popular Bitcoin L2

The asset is fully backed by Bitcoin (BTC), according to its team's statement. Each USDh owner might enjoy up to 25% yield on their holdings in a fully noncustodial manner.

Hermetica, the team behind the Bitcoin-backed stablecoin USDh, is expanding its flagship product to Stacks, a major Bitcoin L2. USDh will be the first-ever USD-pegged stablecoin to go live in the Stacks ecosystem.

USDh by Hermetica, a popular USD-pegged stablecoin and the first-ever synthetic dollar backed by BTC as a security layer, now announces its release on Stacks, the most popular Bitcoin L2.

USDh is live on Stacks 🟧

Earn up to 25% APY with the first Bitcoin-backed synthetic dollar.

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The asset is fully backed by Bitcoin (BTC), according to its team's statement. Each USDh owner will be able to enjoy up to 25% yield on their holdings in a fully noncustodial manner.

Unlike traditional fiat-backed stablecoins, USDh is not dependent on banks, allowing Bitcoiners to maintain full control of their assets without having to move any asset outside the Bitcoin (BTC) ecosystem.

Jakob Schillinger, CEO of Hermetica, highlighted the importance of this launch for the next stage of Bitcoin's DeFi progress in its various applications.

In order for us to scale Bitcoin, we need a thriving ecosystem of Bitcoin L2s. With the launch of USDh on Stacks, we’re bringing a crucial piece of infrastructure to one of the leading Bitcoin ecosystems. We’re excited to now offer Bitcoin-backed yield and a liquid dollar asset that will be instrumental in scaling Bitcoin DeFi on Stacks.

Hermetica’s USDh has already seen rapid success since its initial launch on the Runes protocol for Bitcoin layer 1 (L1) four months ago. Hermetica’s first token reached $2 million in total value locked (TVL) within its private whitelist launch, showcasing the significant demand for Bitcoin-backed stablecoins in the decentralized finance (DeFi) space.

Unveiling potential of $360 billion market

Upon its launch on Stacks, Hermetica's USDh will be integrated with the leading protocols on this L2, including Bitflow Finance, Velar and Zest Protocol, which will enhance liquidity and expand use cases across the Stacks DeFi ecosystem.

Dylan Floyd, CEO of Bitflow, expressed his enthusiasm for the USDh token and its achievements ahead of its debut on Stacks L2.

USDh has everything we’re looking for in a stablecoin: Fully bitcoin-backed, capital efficient, and a sustainable crypto-native yield. At Bitflow, we’re excited to launch new pools for USDh in our AMM DEX and bring deep stablecoin liquidity to our users. Thanks to our aggregator, USDh can be swapped with every other SIP10 token on Day 1.

With only a small portion of the massive $1.3 trillion Bitcoin (BTC) capitalization being utilized in DeFi, USDh's expansion to Stacks will create a new layer of opportunities for investors and builders.