Bitcoin Layer 2 Stacks launches with a 35% all-time high annual yield by USDh

Stacks announced the launch of a 35% annual return rate for Hermetica’s stablecoin USDh, setting a record for the Stacks DeFi ecosystem.

In a recent post on December 9, Bitcoin (BTC) layer-2 scaling solution Stacks reveals that it has started to generate a 35% annual return in the DeFi ecosystem. This return marks an all-time high for the Stacks (STX) ecosystem and is available through Hermetica’s stablecoin USDh.

“Shout out to the incredible Bitcoin developers at Bitcoin L2, the leaders pushing the boundaries of what is possible in Bitcoin!” he said in the posts of the official Stacks account.

Bitcoin DeFi ecosystem on Stacks is evolving 🧡

Shout out to the incredible Bitcoin developers at Bitcoin L2, the leader pushing the boundaries of what’s possible in Bitcoin! 🟧

sBTC: Coming soon. pic.twitter.com/Cyr9BbZy1L

— stacks.btc (@Stacks) December 7, 2024

Previously, USDh offered returns of up to 25% when it launched on Stacks in September. With this latest offering, Hermetica’s stablecoin now offers up to 35% returns to USDh holders.

Since USDh is completely tied to Bitcoin, it allows users to earn returns and trade in dollars without leaving the Bitcoin ecosystem. At the time of writing, USDh has accumulated more than $2.3 million in Total Locked Value, underlining the strong demand for Bitcoin-backed stablecoins.

As previously reported by crypto.news, Bitcoin recently finished the week at $103,900.47 and had a daily close of $101,236.01. This marks the first time Bitcoin has closed above the $100,000 threshold.

Additionally, Stacks announced the launch of Velar DEX’s new permissionless pooling feature. This is one of the first projects led by Charisma to bring permissionless pools to Stacks.

The Bitflow project on Stacks is also producing a new UI teaser for Layer 2 Runes Automated Market Maker, a decentralized trading protocol on a layer-2 solution built on Stacks.

Finally, Stacks provided an update on its ALEX Surge campaign, a round-based rewards program designed to incentivize ALEX liquidity providers to build deeper and more robust liquidity pools on ALEX.