The NEAR protocol would have plans to launch its own much-talked-about native algorithmic stablecoin, USN, in the coming days.
Zoran Kole Reveals USN Launch
In a blog post, “The Future is NEAR,” the founder of the popular Telegram group “Crypto Insiders,” Zoran Kole, revealed that Near Protocol would announce the launch of its USN stablecoin as early as April 20.
Although there was no official announcement regarding the launch date and details of the next stablecoin, Kole said that Near has partnered with several well-capitalized stablecoins and will offer a “desirable” annual interest rate. By about 20%. USN is modeled on TerraUSD or UST.
Kole believes that the stablecoin’s robust modeling and design will siphon off the entire value of the Near ecosystem locked in by alternative layer one protocols.
Additionally, he also revealed that Near would soon be listed on exchange giant Coinbase, which will boost his visibility in retail. Kole linked this to the possibility of nearby NFTs being incorporated into Coinbase’s upcoming NFT market.
Kole claimed that Near Protocol was superior to both Ethereum and Terra, citing data from Electric Capital that described the substantial growth in Near Protocol development. Notably, NEAR Protocol is software that aims to trick a network of computers into operating a platform for developers to build and launch decentralized applications.
Is NEAR the future?
Near has multiple catalysts that make it a “fundamentally attractive investment” by privileging pragmatism to perfection. As Kripteu Magazine reported, the company raised $350 million in a funding round led by Tiger Global, which only adds to the stellar list of venture capital giants backing the Near ecosystem.
Kole also presented a report from Messari, which claims that Near was the third most common asset held by crypto funds in the third quarter of last year.