Summary
- Lido (LDO) reported that it has launched 'EarnUSD,' a yield-bearing vault based on stablecoins.
- It said the EarnUSD vault is Lido’s first dollar-pegged stablecoin product.
- It reported that when users deposit USDC and Tether (USDT), funds are automatically allocated to Ethereum network-based lending markets and other DeFi yield strategies.
Forecast Trend Report by Period
Ethereum (ETH) staking platform Lido (LDO) has launched 'EarnUSD,' a yield-bearing vault based on stablecoins.
According to CoinDesk, a digital asset-focused media outlet, the EarnUSD vault is Lido’s first dollar-pegged stablecoin product.
Under the product’s structure, when users deposit USDC and Tether (USDT), funds are automatically allocated across Ethereum network-based lending markets and other DeFi yield strategies.
Users receive 'EarnUSD' tokens representing their deposited stake, and returns generated from deposited assets accrue on a compound basis.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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