TALLINN, Estonia, Oct. 21, 2022 /PRNewswire/ -- The team behind the Zunami Protocol has announced the successful launch of its native $UZD stablecoin. The fully decentralized UZD stablecoin is backed by stable LP tokens from Curve Finance, Convex, Stake DAO, and Goldfinch. By relying on the Zunami Protocol DAO Strategy, users can enjoy high aggregator native APY thanks to the application of the auto-compounding and rebalancing mechanism.
The Zunami Protocol is the first cross-chain yield aggregator that works with stablecoins and helps users get the highest rate on the market for providing liquidity in stablecoins. Due to Zunami's cross-chain gateway, it is even cheaper for smaller retail players to interact with Eth protocols from EVM-chains and L2s.
$UZD perfectly solves the stablecoin trilemma. It is decentralized, as it is collateralized by a set of various stable crypto assets. It is protected from depeg by the mechanism of instant redemption. $UZD is highly capital-efficient due to the native APY from the best pools on Curve.
"Market needs a fully decentralized, secured and profitable stablecoin protocol that governs through the DAO mechanism. We believe that the use of DAO stablecoins is the one transparent way to store and yield value and hope the crypto community will support our development," as stated by Kirill Kozlov, founder of the Zunami Protocol.
The Zunami Protocol team has also announced a special Early Bird program for liquidity providers that will stimulate the official UZD/3CRV pool on Curve Finance with extra $UZD pool rewards. The target of this stimulation is to boost Curve UZD pool to the 20-30% APR level in the next few months.
About Zunami Protocol
Zunami is the DAO that works with stablecoins and solves the main issues of current yield-farming protocols by streamlining interaction with DeFi, making it easier and cheaper while increasing profitability by differentiating and rebalancing users' funds.
UZD - DAO dollar-pegged stablecoin with wrapped stable assets (from Curve and Convex through Zunami Protocol) as a collateral. UZD yields its holders the best sustainable revenue via the Zunami Protocol Yield Aggregator Strategy.
SOURCE Zunami Protocol Team