Crypto Exchange OKX said it is offering 4.1% yields in USDG in weekly payments, without bets.
OKX is responding to the intensification of the competition for the domain of Stablecoin, he said in an announcement sent by email on Tuesday.
The USDG is coined by the Stablecoin Paxos issuer and is backed 1: 1 for US dollars.
Okx joined the global dollar network in July, and now takes USDG to users on land and high seas, launching it as a “dollar that returns” during quiet markets or when merchants park inactive funds.
The performance has become the key battlefield in Stablecoins, with options backed by Fiat such as USDC and USDG that compete against decentralized designs such as DAI and algorithmic models that have infamously fought for maintaining plugs.
OKX described Stablecoins as “Crypto connective tissue”, in Tuesday’s announcement.
Stablecoins, cryptographic tokens linked to the value of a traditional financial asset, such as a fiduciary currency, now support much of the cryptographic economy, which promote payments, cross -border transfers and defi strategies.
Its importance lies in maintaining a consistent value with a fiduciary currency, which means that users can cover against more volatile cryptoassets without having to completely eliminate the funds from the cryptographic ecosystem.
