hermetica

ChainCatcher news, USDh developer Hermetica (a stablecoin built on Bitcoin's second layer Stacks) has completed a transaction that brings approximately $3 million in liquidity to the token.Hermetica and the Bitcoin lending protocol Zest plan to provide USDh yield through sBTC lending.

ChainCatcher news, stablecoin developer Hermetica has completed a $1.7 million seed round financing, led by UTXO Management. CMS Holdings, Ethos Fund, Trust Machines SPV, Newman Capital, Silvermine, and numerous angel investors participated.Hermetica has developed the yield-bearing synthetic dollar USDh, which is issued on the Bitcoin network. The company intends to use this funding to strengthen the USDh ecosystem, such as through custodial partnerships and enhanced liquidity. Hermetica plans to use this funding to expand into other Bitcoin L2s in the coming months, such as Arch Network and Bitlayer.According to RootData, Hermetica Finance is a non-custodial structured product protocol for Bitcoin. The Hermetica treasury uses automated options yield strategies to generate risk-adjusted returns in Bitcoin and stablecoins.

ChainCatcher news, according to Bitcoin.com, the DeFi protocol Hermetica has launched the BTC-backed stablecoin USDH. Hermetica claims that USDH can always be redeemed for BTC worth 1 dollar, providing users with a non-custodial option. This release aims to eliminate the need for Bitcoin users to rely on centralized exchanges or fiat-backed stablecoins on alternative chains.The company also announced plans to expand its Bitcoin-native DeFi operations using second-layer (L2) solutions like Stacks.