Hassan Maishera
On Wednesday, the Injective team announced via Paxos South America has officially launched the yield-bearing stablecoin, Wrapped Lift Dollar (wUSDL), to the Injective ecosystem.
With this launch, users can utilize this new stablecoin across Injective’s suite of DeFi protocols, all while earning yield by holding the asset. The stablecoin earns yield from short-term treasury bills and cash equivalents, which is passed back to the asset holder.
Potential use cases include using wUSDL for margin when trading derivatives, using the asset for lending protocols, or deploying it into various money market platforms on Injective. wUSDL is a wrapped version of USDL designed to deliver these benefits on various blockchains.
As a wrapped asset, wUSDL maintains the price of USDL while including its yield growth. This allows Injective users to engage in a wide variety of decentralized applications (dApps), including derivatives trading, lending protocols, and money market platforms, all while benefiting from the passive yield generated by USDL’s treasury-backed asset.
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 $20.35, down 2% in the last 24 hours.
