Zurich, Switzerland, July 8, 2024, Chainwire
Quick take
- Decentralized stablecoin lending protocol Certo, previously powered by USDT, has added support for USDC deposits and loans.
- stUSD is an interest-bearing stablecoin powered by Certo, a P2P lending protocol designed to work with tokenized real-world assets in the form of US Treasury bonds.
Certo, as detailed on certo.finance, represents a pioneering approach in the field 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. Treasury bonds as collateral in a stablecoin loan (and, as a traditional stablecoin lender, the user receives the interest earned by borrowers).
stUSD is Certo’s dollar-denominated receipt token, which can be considered a form of interest-bearing stablecoin. This digital currency maintains a stable relationship with the US dollar by using stable collateral of tokenized US Treasury bonds to maintain price stability, serving as a trusted medium of exchange and a store of value for the entire DeFi ecosystem. More importantly, stUSD is designed to earn 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 option for price stability and interest in the volatile cryptocurrency landscape.
Certo has been in development for some time, with its ambitious goal of bridging the gap between DeFi and real-world assets. Initially, when Certo launched its testnet earlier this year, it exclusively supported deposits and loans in (USDT), a stablecoin widely used 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 is taking a major step forward by announcing the addition of support for USDC deposits and loans on its testnet platform. This expansion is critical as USDC is recognized for its wide acceptance in the financial and cryptocurrency markets. By incorporating USDC, Certo aims to attract a broader user base and increase the versatility of the platform, which will allow more users to participate in testing and refining the protocol’s features.
With the inclusion of USDC, Certo ecosystem participants 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 added 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 in its testnet phase. This stage is critical as it allows developers to fine-tune the functionality of the protocol, ensure the stability of the system in various scenarios, and most importantly, gather feedback from users. The testnet phase is essential for Certo to fulfill its goal of creating a secure and seamless 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 only expanding its capabilities but also paving the way for more innovative solutions in the fintech 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 solid foundation for financial transactions worldwide.
ContactTRUECerto Finance[email protected]
This article was originally published on Chainwire
