MegaETH and Ethena launch the stablecoin USDm to revolutionize trading fees
Ethereum scaling solution @megaeth_labs announced the launch of stablecoin $USDm in collaboration with @ethena_labs, aiming to replace the traditional sequencer markup model with stablecoin reserve income to pay sequencer operating fees, thereby reducing and stabilizing transaction costs.
The first batch of $USDm will be issued based on Ethena's USDtb system, with reserves including BlackRock's BUIDL U.S. Treasury Fund and liquid stablecoins. Currently, USDm can only be exchanged for USDtb and does not support fiat currency redemption, and MegaETH said that other revenue mechanisms such as MEV will be disclosed before the mainnet is launched.
Show original
25.45K
3
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.