Enso launches unified issuance layer for stablecoins 'OneStable'
Summary
- Enso announced on the 12th that it launched the unified issuance layer 'OneStable' for stablecoins.
- OneStable said it addresses fragmented liquidity across multiple blockchains, complex transaction processes, high fees, and slippage issues.
- Enso said the service provides a cross-chain DeFi experience and seeks new possibilities for stablecoin-based applications.
Blockchain development automation platform Enso said on the 12th that it launched a unified issuance layer for stablecoins (virtual assets pegged to fiat currency) called 'OneStable'.
The launch included cross-chain developers LayerZero, Stargate, and Reservoir.
OneStable aims to solve the fragmented stablecoin liquidity problem across multiple blockchains and reduce complex transaction processes to improve user experience.
Existing blockchains had problems where liquidity was separated by chain and trading efficiency declined due to complex stablecoin transfer processes. As a result, users had to endure high fees and unexpected losses (slippage). OneStable plans to solve these problems by integrating all procedures such as swaps and bridging, minimizing network fees, slippage, and time delays.
Connor Howe, Enso's chief executive officer (CEO), said, "OneStable supports protocols in concentrating liquidity efficiently and provides users with a bridge-free cross-chain DeFi (decentralized finance) experience," adding, "This can open up new possibilities for stablecoin-based applications."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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