USD1 Stablecoin Launches on Solana — 1:1 Backed with Raydium, BONK.fun, Kamino Integrations
The USD1 stablecoin, aiming for stability and scalability, is backed 1:1 by reserve assets and integrates with Raydium, BONK.fun, and Kamino on Solana.
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Summary
The Trump family's WLFI has launched the USD1 stablecoin on the Solana blockchain. The stablecoin is backed 1:1 by reserve assets and is integrated with Raydium, BONK.fun, and Kamino, aiming to provide greater stability and scalability in the crypto market.
Terms & Concepts
- Stablecoin: A cryptocurrency designed to maintain a stable value, commonly supported by reserve assets.
- Solana: A high-throughput blockchain offering fast transactions and low fees for decentralized applications.
- Raydium: A decentralized exchange and automated market maker on Solana for trading and liquidity provision.