DWF Labs-backed stablecoin enterprise, Falcon Steady or USDf, has been built-in into Kaia Chain, in keeping with DWF Labs CEO Andrei Grachev.
In a current publish, DWF Labs CEO and Head of FalconStable, Andrei Grachev introduced that the USD-backed stablecoin has been absolutely built-in into the Kaia (KAIA) Chain. The partnership allows the artificial stablecoin to be embedded into the LINE messenger ecosystem by means of Kaia.
“Collectively, we convey sustainable and modern stablecoin yield options for greater than 250 Tens of millions of Line customers BUIDL!” stated Grachev in his current publish.
By integrating USDf into Kaia Chain, LINE customers will be capable to entry the stablecoin and earn passive yield from its staked product, sUSDf.
Falcon Steady is a stablecoin enterprise established by DWF Labs’ Falcon Monetary. Falcon Steady is the DWF Labs’ artificial stablecoin protocol that allows customers to mint a yield-bearing U.S. greenback‑pegged token known as USDf.
In contrast to most stablecoins, Falcon’s USDf permits customers to deposit varied digital property, comparable to different stablecoins like USD Coin (USDC) and Tether (USDT), main tokens like Bitcoin (BTC) and ETH (ETH) and even tokenized real-world property into the protocol. These totally different property are then used as collateral to mint USDf.
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The stablecoin additionally affords yield for holders who stake minted USDf. Minted USDf may be staked to obtain sUSDf, an interest-bearing model that accrues yield with an APY that has surpassed 22%. At press time, the stablecoin has amassed a market cap of almost $560 million and a 24 hour buying and selling quantity of greater than $1.7 million.
Kaia Chain serves as the principle web3 infrastructure for the messaging platform, LINE. Kaia powers the Mini Dapp and Dapp Portal inside LINE’s messaging app, permitting customers to seamlessly entry and work together with decentralized functions with out the necessity for web3 onboarding.
LINE is a messaging platform in style amongst East Asians, with a person base of greater than 250 million individuals registered.
Again in August final 12 months, LINE started diving into web3 with the combination of mini dApps powered by Kaia blockchain. The Kaia DLT Basis is an impartial physique born from the merger of two distinguished blockchain initiatives, from LINE and South Korean tech big Kakao. The blockchain combines Line’s Finschia blockchain and Kakao’s Klaytn blockchain.
Learn extra: LINE messenger to introduce mini dApps through Kaia blockchain
