Crypto Exchange Okx said it offers 4.1% yield on USDG in weekly payouts without putting lockups.
OKX responds to intensified competition for stableecoin -dominance, it said in an E -Mail message on Tuesday.
USDG is characterized by stableecoin issuer Paxos and supported 1: 1 by US dollars.
OKX joined the Global Dollar Network in July and now brings USDG to Onshore and Offshore users, and threw it as a “dollar that pays you back” under quiet markets or when dealers park inactive money.
The yield has become the most important battlefield in stableecoins, with Fiat-supported options such as USDC and USDG, competing for decentralized designs such as DAI, and algorithmic models that have noticed to maintain sticks.
OKX described stableecoins as “Crypto’s connective tissue” in Tuesday’s announcement.
Stableecoins, the crypto-tokens linked to the value of a traditional financial asset, such as a Fiat currency that now supports much of the crypto economy, turns on payments, cross-border transfers and defi strategies.
Their significance lies in maintaining a value that is consistent with a FIAT currency, which means that users can uncover against more volatile cryptoassets without having to remove remedies from the crypto ecosystem completely.
