Zurich, Switzerland, July 8th, 2024,
Chainwire
Quick take
- Certo protocol, decentralized stablecoin lending, previously
working with USDT, has added support for USDC deposits and
borrows.
- stUSD is an interest-earning stablecoin utilizing Certo — a P2P
lending protocol designed to work with tokenized real-world assets
in the form of U.S. Treasuries.
Certo, as detailed on certo.finance, represents a
pioneering approach in the realm of decentralized finance (DeFi).
It is a peer-to-peer (P2P) lending platform that brings real-world
assets into the space. Specifically, Certo facilitates the use of
tokenized U.S. Treasuries as collateral in a lending
stablecoins — and a lender of traditional stablecoins, the user
receive the interest accrued to the borrowers.
stUSD is Certo’s dollar-denominated receipt token, which can be
seen as a form of interest-earning stablecoin. This digital
currency maintains a stable relationship to the U.S. dollar by
using a stable collateral of tokenized U.S. Treasuries to maintain
price stability, serving as a reliable medium of exchange and a
value store for the whole DeFi ecosystem. More importantly, stUSD
is designed to generate interest for its holders, which accrues
over time based on the underlying lending activities conducted
through the Certo protocol. This feature makes stUSD a potential
choice for price stability and interest in the volatile landscape
of cryptocurrencies.
Certo has been under development for some time, with its
ambitious goal to bridge the gap between DeFi and real-world
assets. Initially, when Certo launched its testnet earlier this
year, it exclusively supported deposits and borrowing in Tether
(USDT), a widely used stablecoin in the cryptocurrency market. This
initial phase allowed Certo to test its systems, ensure robust
security measures, and gather valuable feedback from early users
within a controlled environment.
Today, Certo takes a significant step forward by announcing the
addition of support for USD Coin (USDC) deposits and borrows on its
testnet platform. This expansion is pivotal as USDC is renowned for
its wide acceptance across financial and crypto markets. By
incorporating USDC, Certo aims to attract a broader user base and
increase the platform’s versatility, allowing more users to
participate in testing and refining the protocol’s features.
With the inclusion of USDC, participants in the Certo ecosystem
now have the flexibility to deposit both USDT and USDC to receive
stUSD. This enhancement allows users to preview how their
investments accrue interest over time, directly within the Certo
interface. This dual-stablecoin option not only provides greater
convenience but also enriches the user experience by demonstrating
the practical benefits of stUSD in a more diverse and adaptable
framework.
While today’s announcement marks a significant milestone, it is
important to note that Certo is still operating within its testnet
phase. This stage is critical as it allows the developers to
finetune the protocol’s functionality, ensure the stability of the
system under various scenarios, and most importantly, secure user
feedback. The testnet phase is essential for Certo to meet its goal
of creating a seamless and secure bridge between cryptocurrencies
and real-world assets, ensuring that once live, the platform can
operate effectively and reliably in the broader DeFi ecosystem.
Through initiatives like these, Certo is not just expanding its
capabilities but also paving the way for more innovative solutions
in the financial technology space.
About Certo
Certo is at the forefront of developing a secure, stable, and
scalable platform, aiming to bridge the gap between traditional
fiat currencies and the digital economy. With a focus on security,
transparency, and community-driven development, Certo seeks to
provide a robust foundation for financial transactions
worldwide.
Contact
Certo
Certo
Finance
pr@certo.finance