SMARDEX has launched USDN, a synthetic dollar token backed by a decentralized ETH perpetual contract, raising $4.5 million in a public seed round shortly after its debut. This innovative product employs a Delta Neutral strategy to ensure stability and prevent systemic risks, distinguishing it from previous algorithmic stablecoins. With $12 million invested by RA2 TECH, USDN allows holders to earn yield directly from their wallets, marking a significant advancement in decentralized finance.
SmarDex has launched USDN, a decentralized synthetic dollar backed by a Delta Neutral strategy utilizing ETH, aiming to provide stability and security in decentralized finance. The project raised $4.5 million in total value locked shortly after its launch, demonstrating strong market interest. With innovative features like automatic yield generation, USDN seeks to overcome the vulnerabilities of previous algorithmic stablecoins.
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