🪙 Introducing the VELO Protocol's
$USDV Stablecoin 🪙
#USDV is a stablecoin within the VELO ecosystem, designed to be a primary store of value and unit of transfer for various applications. It is pegged to the US dollar but not directly to USDT as some might infer; instead, it's backed by a basket of assets including:
1⃣ VELO token
The native token of the VELO ecosystem.
2⃣ Digital Gold
Through the PLG initiative, which tokenizes gold reserves.
3⃣ BlackRock's
$BUIDL Fund
This is BlackRock's USD Institutional Digital Liquidity Fund, which is tokenized by Securitize.
4⃣ Tokenized U.S. Treasury Bills (TBILL)
OpenEden's tokenized U.S. Treasury Bills have been integrated into the reserve collateral for USDV, enhancing its stability and credibility.
🪙 Integration with
#BUIDL and
#Tbill 🪙
#BUIDL: Refers to BlackRock's tokenized fund, which VELO Labs has announced as part of the collateral backing USDV. This integration was announced around September 2024, indicating an effort to leverage institutional-grade assets for stability.
prnewswire.com/apac/news-rel…
#Tbill: The tokenized U.S. Treasury Bills from OpenEden were added to strengthen the reserves of USDV. This move was also announced in September 2024, focusing on providing users with yield opportunities through staking.
prnewswire.com/news-releases…
@veloprotocol #BUIDL #Stablecoin