Energi Dollar (USDE) stablecoin drives the growth of the Energi ecosystem
Energi announced the launch of the Energi Dollar (USDE) stablecoin on Energiswap, providing more usability and value for the user community.Author: Energi
Compiled by: ChainCatcher
Energi is making another significant announcement to further enhance the usability and value of the Energi ecosystem for its user community. Now on Energiswap, traders can utilize the Energi Dollar (USDE) stablecoin.
USDE is an NRG-backed stablecoin, which means that there are reserves of NRG tokens supporting USDE as collateral. The market value of the NRG reserves is equivalent to the market value of USDE (in USD). Currently, there are 1.6 million dollars minted and supported by NRG collateral.
In the USDE-NRG liquidity pool, there is already a substantial amount of USDE liquidity available on Energiswap. It is currently the largest liquidity stablecoin pair on Energiswap, increasing the total liquidity of the Energiswap DEX by over 2 million dollars!
Stablecoins play several key roles. One is to provide lower volatility investment opportunities to protect profits after asset sales or to serve as a direct on-chain installment platform for investments. Stablecoins offer a way to trade that reflects the lower volatility peaks and troughs of the dollar. However, they also enjoy all the benefits of cryptocurrencies, such as faster transaction speeds, lower fees, global reach, and instant settlement.
Finally, stablecoins like USDE provide users with greater liquidity, allowing for more types of pairing sales, significantly enhancing the utility of the entire Energi ecosystem.
As part of its ongoing development, Energi has recently announced several exciting updates, including the announcement of the Energi Dragon NFT series, the world's first referral reward program launched on a decentralized exchange, yield farming, liquidity pool expansion, and more!
