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Hermetica
Hermetica offers USDh, the first Bitcoin-backed, yield-bearing synthetic dollar. It provides users with a stablecoin that generates up to 25% APY and operates independently of the traditional fiat banking system, integrating with the Bitcoin DeFi ecosystem.
Distributed
Description
Hermetica is a financial protocol that offers USDh, a Bitcoin-backed, yield-bearing synthetic dollar designed to operate outside the traditional fiat system. The platform aims to solve the problem of stablecoins offering zero yield and their reliance on the banking system. USDh generates up to 25% APY for its holders through consistent yield from perpetual futures funding payments. It is a price-stable dollar backed by Bitcoin, not fiat currency. Users can acquire USDh on Bitcoin exchanges, stake it to earn yield, and utilize it within the Bitcoin DeFi ecosystem for trading, lending, and earning additional yield.Grant Funding
VC Funding
None
2024
$0
$1.7M