Megaeth, an Ethereum scaling network designed for transactions that treat so quickly that it is called a “real -time” blockchain, said on Monday that it launched a native stable with a fast growing protocol Ethena Ethena .
The token, nicknamed USDM, will be closely integrated into the applications and protocols built above the network and aims to help maintain low transaction costs on the chain by redirecting reserve asset income to subsidize sequencer costs, according to a blog article.
“The USDM means lower costs for users and a more expressive design space for applications,” said the co-founder of Megaeth, Shuyao Kong, in the blog post. “We are delighted to work with Ethena to allow a win-win scenario for all the stakeholders in our ecosystem.”
The token will be supported at the beginning by the USDTB of Ethena, a token generating yields supported by Buidl Buidl. Later, other tokens issued by Ethena could be added such as the USDE, Megaeth said in a blog article.
Ethena’s governance token, (ENA)Won 7% in the past 24 hours, surpassing the wider market of cryptography.
Stablecoins are a rapidly growing group of $ 270 billion in cryptocurrencies, mainly with prices related to the US dollar. They serve as pairs of liquidity and primary trading on cryptography places, and are also increasingly used for cross -border payments promising faster and cheaper transactions on blockchain rails compared to traditional banking channels. They received a regulatory boost earlier this year in the United States when President Donald Trump signed the law on engineering, the first major cryptographic legislation in the country.
Megaeth Stablecoin is the latest example of cryptographic ecosystems that have made steps to issue a owner stable with a service provider instead of relying solely on the existing offers of Stablecoin, currently dominated by the USDC of Circle and USDT de Tether.
The popular Wallet Crypto Wallet Metamask recently announced the launch of its own stablecoin with M0 and Stripe’s Bridge infrastructure providers, while Hyperliquid, a layer 1 network known for its perpetual swap exchange in popular chain, holds a hearing for a Stablecoin -emitting partner for its own token.
The megaeth tokens plan also highlights Ethena venturing into the company Stablecoin-as-a-service, helping other cryptographic ecosystems to issue their own stabbed. The protocol is behind the digital usde of $ 13 billion, which gives the supplier by holding a crypto spot like bitcoin and ether during sale (short-circuit) An equal amount of derivatives to collect the funding rate.
Read more: Hyperliquidal faces a repression of the community against the USDH proposal linked to the band
