The Crypto Exchange Okx said it offered 4.1% yield to USDG on weekly payout, without locked.
OKX responds to the increasing competition for Stablecoin’s dominance, it said in an email announcement on Tuesday.
The USDG has been mininted by Stablecoin Issuer Paxos and has been back 1: 1 of US dollars.
OKX joined the Global Dollar Network in July, and is now bringing USDG to users on the far offshore, pointing it out as a “dollar that will pay you back” to quiet markets or when entrepreneurs park idle funds.
The yield has become the main battlefield in Stablecoins, with options supported by FIAT such as the USDC and USDG competing against decentralized designs such as DAI, and algorithm models that have Embarrassing to struggle to keep pegs.
OKX described the stablecoins as “connective crypto tissue,” in Tuesday’s announcement.
Stablecoins, crypto tokens peg in the value of a traditional financial property such as a fiat currency, now supports most of the crypto economy, power payments, cross-border shifts, and defi techniques.
Their importance lies in maintaining a value corresponding to a Fiat Currency, which means users can guard against more and more cryptoassets without having to remove funds from the crypto ecosystem completely.
