Crypto Insiders founder Zoran Kole revealed the possible launch of a Near Protocol native stablecoin. Via a substack post, Kole claimed the digital asset will be announce on April 20 as an algorithmic stablecoin called USN. Related Reading | TA: Terra (LUNA) Surges, Is It Eyeing A Correction Now? The digital asset will be deployed in cooperation with “other well capitalized stablecoins”, according to the post. At the time of writing, there seems to be no official announcement other than this post and speculation from the crypto community. Therefore, users might want to take this potential launch with a grain of salt. In addition to the USN allege launch, the stablecoin could possibly offer a 20% Annual Percentage Rate (APR) on a product similar to the Terra ecosystem’s Anchor Protocol. This product enables users to stake their stablecoins, in the form of Terra’s native UST, and leverage a 19% APR. If the launch is executed, Near could gain an edge against Anchor and similar products on the decentralized finance (DeFi) and centralized finance (DeFi) sector. Kole wrote the following on the implications of a native stablecoin on Near, as he argued in favor of a bullish thesis for this protocol: They will offer an extremely attractive ~20% APR, which will ignite DeFi capital rotation into the Near ecosystem, siphoning the total value locked from other alternative layer-one protocols. Data from DeFi Llama records a $29 billion...
