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Thursday

26 November 2020

Coinflex Launches Noncustodial Interest-Bearing Stablecoin on BCH and ETH Networks | Blockchain Bitcoin News

Coinflex Launches Noncustodial Interest-Bearing Stablecoin on BCH and ETH Networks | Blockchain Bitcoin News


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The cryptocurrency exchange Coinflex has announced the launch of a unique interest-bearing stablecoin called Flexusd.

The new stablecoin is considered to be the first dollar-backed crypto that pays interest at the base level.

The digital currency trading platform Coinflex has revealed the creation of a new stablecoin token that bears interest.

Coinflex details that the token will be made available via the Ethereum and Bitcoin Cash blockchain during the initial launch.

The ‘yield on yield’ scheme not only provides benefits for Flexusd stablecoin owners as Coinflex details that the concept works with Flex wrapped assets like Flexbtc, Flexeth, and Flexlink.

Accordingly, Coinflex says the exchange will undertake three repo auctions per day, and Flex asset users will get a “pro-rata share of any interest earned by users borrowing assets that underlie the flex assets.”.

What do you think about the stablecoin Flexusd and the concept of earning interest at the base layer

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