Hassan Maishera
The Injective team announced via a blog post on Wednesday that Mountain Protocol is launching on Injective to bring the first native yield-bearing stablecoin (USDM) into the Injective ecosystem.
Thanks to this integration, users can now leverage USDM for a diverse array of dApps built on Injective while still earning yield from treasury bills. Potential use cases include using USDM for margin when trading derivatives, using the asset for lending protocols, or deploying assets into various money market platforms on Injective.
Mountain Protocol is the issuer of USDM, the first permissionless yield-bearing stablecoin. USDM is a stablecoin backed by treasury bills, providing a secure foundation. Unlike most other stablecoins, USDM allows users to earn and retain daily interest on their holdings.
Injective is an open, interoperable layer-one blockchain for building powerful DeFi applications. Injective uniquely provides plug-and-play financial infrastructure primitives, such as a high-performance on-chain decentralized exchange infrastructure, decentralized bridges, oracles, and a composable smart contract layer with CosmWasm. INJ is trading at $23.80, down 3% in the last 24 hours.
