Kup Hermetica USDh (USDH) w Malaysia

Hermetica USDh is a decentralized finance project that introduced a synthetic dollar natively backed by Bitcoin. Developed by Hermetica Labs, the project aims to provide a stable digital asset within the Bitcoin ecosystem that allows users to maintain dollar-denominated value without relying on traditional banking systems or fiat currencies. The core mechanism of USDh is based on a delta-neutral strategy. This approach involves holding physical Bitcoin while simultaneously taking an equivalent short position in the Bitcoin futures market. By balancing these two positions, the protocol cancels out the price volatility of Bitcoin. This ensures that the total value of the underlying assets remains stable in dollar terms, regardless of whether the price of Bitcoin goes up or down. A key feature of the project is its ability to generate returns for users who hold or stake the asset. These returns are derived from funding rates in the derivatives market. In the futures market, traders paying for leverage often provide payments to those holding the opposing side of a trade. Hermetica captures these funding payments and distributes them to participants who stake their USDh tokens. When users stake their USDh, they receive a secondary token called sUSDh, which represents their share of the yield-generating pool. The project is built to operate across multiple layers of the Bitcoin network. It is issued natively on the Bitcoin base layer using the Runes protocol and is also available on Bitcoin layer two solutions such as Stacks. This multi-chain approach allows the asset to be used across various decentralized finance applications, including lending platforms and decentralized exchanges. To manage operational risks, Hermetica utilizes institutional-grade custodians and off-exchange settlement systems. This setup is designed to protect the collateral by keeping it with professional third-party custodians rather than directly on centralized trading platforms. Additionally, the protocol maintains a reserve fund intended to provide a buffer against market imbalances or periods of high volatility, further supporting the stability of the dollar peg. In summary, Hermetica USDh functions as a Bitcoin-native alternative to traditional stablecoins. It leverages the security of the Bitcoin network and the efficiency of derivatives markets to create a yield-bearing asset that remains independent of the fiat banking system. Dowiedz się więcej