Today NEAR officially announced the distribution of their native stable token USN. Now NEAR will follow suit in similar fashion as Terra and other chains that have a native stable token, just like Hive with HBD.
News broke out today of the official USN release with a APR of around 11%. The news was not so good as some may have hope and current price of NEAR is proof.
As of now NEAR is down around $14.30 and had a weekly high of $18. Terra and Anchor is in the lead with already over $18 billion in stable coin and having an APR close to 20%. The NEAR APR being 11% will not be as attractive and people are realizing this.
The story continues where NEAR will have a DAO and governance to vote for a potential increase in monthly rewards. The end result can still potentially be 20% APR.
Conclusions
Do Kwon the creator of Terra have some optimistic praise for NEAR and other upcoming chain stable coins to come. The reason for being optimistic is that with more stable coins there push for top ranking decentralized stable coin. UST is in the lead with $10 billion in BTC reserves while also is ranking 3rd in stable coin at $14 billion. Will UST still be in the lead at take the crown not only as the decentralized stable coin and overall stable coin? Exciting time we are living in.
None of what I write is financial advice. It is for entertainment purposes only. Thanks for reading!
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