New synthetic dollar launches with 25% yield, backed by Bitcoin

Hermetica has unveiled a groundbreaking innovation in Bitcoin-native decentralized finance (DeFi): the first-ever Bitcoin-backed synthetic United States dollar with yield-generating capabilities. The synthetic dollar, known as USDh, is set to be launched in June and will offer users the opportunity to earn yields of up to 25%. This development allows Bitcoiners to securely hold and earn yield on their U.S. dollars without relying on the traditional banking system or investing in non-Bitcoin-related products. Jakob Schillinger, the founder and CEO of Hermetica Labs, stated that this new synthetic dollar is part of the Bitcoin DeFi (BTCFi) movement, which aims to bring DeFi capabilities to the original blockchain network.