USDh Is Live on Runes
Hermetica Brings the First Bitcoin-Backed Synthetic Dollar to Bitcoin Layer 1
Today we’re releasing USDh on Bitcoin Layer 1.
The first Bitcoin-backed synthetic dollar that yields up to 25% is now available on the mother chain.
As a first-of-its-kind product, USDh eliminates the need for traditional banks or fiat-backed stablecoins.
Made possible through key advancements in Bitcoin technology, namely Ordinals and Runes, USDh lets you hold dollars and earn an attractive yield without leaving the security of Bitcoin L1.
No banks, no fiat — just Bitcoin.
Earn Up to 25% APY on your Dollars
Up to 25% APY isn’t hyperbole.
The protocol’s design, which couples Bitcoin with a short futures position, comes with a Bitcoin-native yield.
This yield fluctuates with the market’s demand for long leverage: In the 2022 bull market the annual return was 26.11% while the 2023 bear saw a 2.82% return. Our backtests from January 2021 to March 2024 show an average APY of 11.71%.
To start earning, head over to the Hermetica app and stake your USDh. You immediately receive the first liquid staking token on Bitcoin L1, sUSDh, which automatically accrues the yield.
USDh Unlocks Bitcoin DeFi on L1
Having a stable and liquid dollar asset on Bitcoin L1 is crucial for the adoption of Bitcoin DeFi. USDh provides a reliable dollar unit of account that will serve as the backbone of the emerging L1 DeFi ecosystem.
Starting today, you can buy USDh on Magic Eden and borrow BTC against USDh on Liquidium.
But this is just the beginning. In the coming months USDh will be integrated into new protocols and scaled to Bitcoin Layer 2s like Stacks.
USDh will be everywhere Bitcoiners are.
Earn Points and Join the Hermetica Community
Being part of the Hermetica community comes with a litany of perks.
Buy USDh, stake it on our app, and use it across Bitcoin DeFi. Every action you take earns points and a spot on our leaderboard.
About Hermetica
Hermetica is a crypto-native team with previous experience at Kraken and State Street, backed by the leading institutional asset manager, Two Prime.
We’re Bitcoiners building products for Bitcoiners.
Check out our app at app.hermetica.fi to be among the first to use USDh.
