Back

Decibel Introduces USDCBL Stablecoin for On-Chain Perpetual Collateral

The Aptos-based trading engine partnered with Bridge to release USDCBL, attracting over $42 million in pre-deposits within 12 hours to serve as collateral for perpetual contracts.

APT

Summary

Decibel announced the launch of USDCBL, a native USD stablecoin developed in partnership with Bridge, which garnered over $42 million in pre-deposits within 12 hours. The Aptos-based protocol will utilize USDCBL as the primary collateral for its perpetual contracts upon mainnet launch. Supported by cash and U.S. Treasuries, the stablecoin enables a yield-based funding model for the platform's operations.

Terms & Concepts
  • Stablecoin: A cryptocurrency designed to minimize price volatility, typically by being pegged to a stable asset like the U.S. dollar or government bonds.
  • Perpetual Contracts: A type of derivative financial instrument that allows traders to speculate on the price of an asset without an expiration date.
  • Aptos: A Layer 1 blockchain designed for scalability, safety, and reliability, serving as the underlying infrastructure for the Decibel protocol.