Megaeth, an Ethereum scaling network designed for transactions that treat so fast, it calls itself a “real-time” blockchain, said Monday that it launches a native stableecoin with rapidly growing defi-protocolenena .
The token, called USDM, will be embedded tightly in applications and protocols built on top of the network and aims to help keep transaction costs on the chain by redirecting the revenue from the reserve assets to subsidize sequencer costs, according to a blog post.
“USDM means lower fees for users and a more expressive design room for applications,” said megaeth co-founder Shuyao King in the blog post. “We are happy to work with Ethena to enable a win-win scenario for all stakeholders in our ecosystem.”
The token will be supported at the beginning of Ethenas USDTB, a dividend -generating token supported by Blackrock’s tokenized money market fund BUIDL. Later, other and future ethena issued tokens can be added to such a US, Megaeth said in a blog post.
Ethena’s steering token, Ena (ENA)achieved 7% over the last 24 hours and surpassed the wider crypto market.
Stableecoins are a fast -growing group 270 billion group of cryptocurrencies, predominantly with prices tied to the US dollar. They serve as a primary liquidity and trading pair of crypto plays and are also increasingly used for cross-border payments that promise faster, cheaper transactions on blockchain rails compared to traditional bank channels. They received a legislative boost earlier this year in the United States when President Donald Trump signed the genius law, the first major piece of crypto legislation in the country, into the law.
Megaeth’s stableecoin is the latest example of crypto -ecosystems that make steps to issue a proprietary stableecoin with a service provider instead of relying exclusively on the existing stableecoin offers that are currently dominated by Circle’s USDC and Tether’s USDT.
Popular Crypto-Wing Book Metamask recently announced the launch of its own stableecoin with infrastructure providers M0 and Stripe’s bridge, while Hyperliquid, a LAG-1 network known for its popular on-chain Perpetual Swaps Exchange, has an audition for a stableecoin editor partner.
Megaeth’s TokenPlan also highlights Ethena, who gets into the StableCoin-as-A-Service business, helping other crypto ecosystems to issue their own stableecoins. The Protocol is behind the $ 13 billion Digital Dollar USD (Shorting) An equal amount of derivatives to harvest the degree of funding.
Read more: Hyperliquid is facing community pushback against stripe-bound USDH suggestions
