Umoja’s USDb, the first Bitcoin-based synthetic dollar, has been launched on the Merlin chain.

Atlanta, GA, USA, April 16, 2024, Chainwire

Umoja, a groundbreaking smart money protocol designed to enable anyone to build wealth through investing in digital assets, has partnered with leading Bitcoin layer-2 network Merlin Chain to launch USDb, the first Bitcoin-based high-yield synthetic dollar.

USDb will leverage the Merlin Chain’s highly efficient, scalable and secure transaction layer to unlock the potential of Bitcoin DeFi and accelerate Umoja’s smart currency-based financial renaissance.

USDb, a high-yield synthetic dollar secured on first principles backed by a tokenized trading strategy, differs from cryptocurrency stablecoin assets that are backed by collateral or rely on algorithmic mechanisms to maintain the US dollar peg. Instead, USDb has built a completely self-sufficient peg based on a transparent on-chain transaction strategy. This is the first asset to utilize Umoja’s new DeFi trading strategy.

Umoja is a synthetic asset factory for cryptocurrencies, creating synthetic versions of any digital asset through a tokenized trading strategy called “Synths” that generates better returns and ensures stronger protection than any other type of cryptocurrency asset. can. Synths are specialized tokens that replicate the functionality of traditional financial instruments and DeFi trading strategies. This is achieved through participation in derivatives trading and DeFi protocol operations on centralized exchanges.

Umoja is a solution to the long-standing “ROI paywall” that prevents retail investors from adopting the most successful trading strategies utilized by financial institutions, making wealth creation tools available to anyone.

For Merlin Chain, we are building a native BTC layer-2 platform that is wasting no time in leveraging the Bitcoin community’s enthusiasm for native Bitcoin-based DeFi. Since launch, the magic of the Merlin Chain has helped it attract a total of over $3.6 billion in fixed value, proving its ability to scale rapid growth in the Bitcoin ecosystem. It enables secure, scalable and efficient transactions on Bitcoin and serves as a strong foundation for the BTC native project.

The collaboration between Umoja and Merlin Chain represents an important milestone in the evolution of smart money protocols. By integrating Umoja’s Synths with Merlin Chain’s innovative Layer-2 infrastructure, partners are increasing the accessibility of highly sophisticated asset management tools and paving the way for a more inclusive financial future.

The USDb asset will play a pivotal role in achieving this goal. It is based on a sophisticated mechanism that effectively pools Bitcoin assets to generate high yields while maintaining the US dollar peg. In this way, USDb is uniquely designed to provide stability and high returns. This means that users benefit from both price stability and attractive passive income. This is a groundbreaking double benefit with the potential to deliver returns.

Umoja founder Robby Greenfield said that the choice of Merlin Chain as the foundation for USDb was a strategic decision based on the shared vision of both projects, their ability to attract significant TVL, and an active community of users eager to leverage Bitcoin’s true potential.

“I chose Merlin not only for these reasons, but also because the money that is most diversified, most accessible, lowest risk, highest return will have the greatest adoption,” Greenfield said in a statement. This kind of money can only be built in Bitcoin,” Greenfield said.

The partnership between Umoja and Merlin Chain will be the first and last partnership to transform the future of money by combining the fundamental strengths of Bitcoin and the innovative potential of DeFi. Cryptocurrency enthusiasts, Bitcoin maximalists, degenerates and retail investors who want to participate in Umoja’s smart money-based financial renaissance and begin the democratization of wealth creation can get started at https://umoja.xyz/.

About Umoja

Umoja is the world’s first smart money protocol that allows anyone to create smart money using blockchain technology. By integrating automated investment strategies into digital assets, Umoja empowers everyone to spend their money smarter by self-trading tokens, hedging against market volatility, and optimizing returns.

Introduction to Merlin Chain

Merlin Chain is a pioneering BTC layer 2 solution that leverages the strengths of the Bitcoin ecosystem to drive innovation, collaboration, and growth. With a strong foundation of community-driven assets and a strategic approach to ecosystem expansion, Merlin Chain is committed to driving the future of Bitcoin-based innovation.

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