Hermetica DeFi Launches First Bitcoin-Backed Synthetic Dollar USDh

The new stablecoin will be fully integrated into the existing Bitcoin (BTC) ecosystem of DeFi from the very first days of its operations. Also, it will be equipped with built-in yield generation opportunities for holders and investors in DeFi protocols.

Hermetica's USDh, first BTC-backed stablecoin, kicks off

Hermetica, a new-gen DeFi protocol built on the top of Bitcoin (BTC), is proud to announce the launch of USDh, the first ever Bitcoin-backed synthetic dollar. Expected to be up and running in mainnet as soon as next month, USDh offers a yield of up to 25%.

The new asset is set to enable Bitcoiners to hold USD, earn significant yield and remain fully integrated within the Bitcoin ecosystem with no need to withdraw money via crypto-to-fiat off-ramps.

USDh represents a pivotal innovation for crypto enthusiasts seeking to diversify their holdings without leaving the security of the Bitcoin (BTC) blockchain, a common ambition of many Bitcoiners.

Jakob Shillinger, CEO of Hermetica, highlights the paramount importance of the USDh release for the entire Bitcoin (BTC) ecosystem:

We are excited to address some of the biggest problems in the Bitcoin (BTC) ecosystem today. Soon you will be able to hold dollars without watching them inflate away while staying completely outside the traditional banking system; no banks, no fiat – just Bitcoin. A stablecoin backed by the hardest asset in the world (BTC) that is native to the most secure Blockchain (Bitcoin).

This novel financial product benefits from the robustness of Bitcoin-backed security, allowing for a seamless, lucrative interaction with digital assets.

Bitcoin-centric innovations by market veterans

The protocol's vision and realization is supported by Two Prime, a leading SEC-registered institutional asset manager and early backer of Hermetica.

Alexander Blume, Managing Partner of Two Prime, is excited to introduce his product as part of such a bold experimental initiative on Bitcoin (BTC):

We have thoroughly analyzed the existing market and know Hermetica and Two Prime can deliver the first Bitcoin-backed synthetic dollar with strong yield, institutional risk controls, and superior collateral management (...) We are excited to partner with Hermetica to bring these products to the Bitcoin ecosystem.

Users interested in gaining early access to USDh are encouraged to join Hermetica’s waiting list on the project's official website. Hermetica’s initial offerings have already demonstrated significant market traction, with its first token achieving $1 million in Total Value Locked (TVL) within a week of its private whitelist launch.

The protocol was built by a crypto-native team with previous experience at Kraken, Bloomberg and State Street.