Stablecoin

USDQ

Leading crypto exchange Binance has launched a new stablecoin called BFUSD which will <a href="https://coingape.com/binance-introduces-high-yield-bfusd-stablecoin/">provide</a> high-yield earnings for traders. BFUSD will be a collateral for borrowing trading. 
The new stablecoin has an annual percentage yield (APY) of 19.55% which makes it a good alternative to conventional stablecoins Tether (USDT) and USDC. 
Crypto users just have to have BFUSD in their UM wallets to get the rewards. No locking funds of staking are required. As of November 17, this stablecoin has a reserve fund holding of 1.1 million USD and a stability of 105.54% 
According to Binance, the 19.55% APY of BFUSD is unusual. The new stablecoin has a total supply of 20 million which will make it possible for crypto users to earn rewards by locking up funds and staking. 
Crypto users can get access to airdropped rewards daily as they hold BFUSD in their UM wallets. Binance crypto exchange will calculate the interest as per the lowest hourly BFUSD balance in the account of a user analysed through hourly snapshots. 
However, Binance will regularly credit rewards on the UM Futures account which can be viewed daily in the Reward History section. 
The new Binance stablecoin also has features like hassle-free earnings as you get daily rewards by having BFUSD in your wallet. The 19.55% APY outperforms other stablecoins but the most important feature is its ability to act as a collateral in Multi-Asset Mode. BFUSD has a collateral ratio of 100% which improves the crypto users trading capacity immensely. 
Recently Stablecoins have emerged as a good financial option in the crypto world as seen in Netherlands-based fintech company Quantoz launching two MiCAR-compliant stablecoins using Tether technology. Both USDQ and EURQ seek to transform financial transactions in Europe. 
Of late Binance has been expanding its token offerings to support the native token of a decentralized fiat stablecoin user. Using Binance Launchpool, crypto traders can stake coins to gain USUAL, the crypto exchange's native token for the 61st project. 
USUAL has a unique vision for decentralised stablecoin management which seeks to change protocol governance and ownership. Through this initiative, the crypto exchange is underlining its commitment to support innovative projects in the stablecoin domain. 
BFUSD has been launched to encourage stable adoption by maximizing benefits given to crypto users. The new Binance stablecoin holding is linked to a VIP level with users getting assigned a level based on the number of tokens in the wallet. The traders can only allowed to make USDT transfers into the UM wallets and there has to be trading activity every day to activate the rewards. This ensures maximizing earnings 
The 105.54% collateralisation ratio of BFUSD ensures stability as it has 1.1 million USD in the reserve fund as of November 17. This enhances the credibility of the asset. PM and MiCA users can only redeem BFUSD without rewards while Main Account holders can use the full program. 
The new stablecoin has kept the BFUSD market cap stable at $68.31 million although it caused a spike in BNB price which rose to $617.20. The new stablecoin will strengthen Binance's position as an innovator in the stablecoin ecosystem as it provides high-yielding opportunities

Crypto Exchange Binance Launches New Stablecoin BFUSD With Over 19% APY

Yellow News

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