Binance’s token BFUSD has already sparked speculation even before its launch.
It all started with Binance’s introduction of the new asset on Monday which offers 19.55% APY, positioning itself as an alternative to conventional stablecoins.
Not a Stablecoin, But a Reward-Bearing Asset
According to the website, users can earn daily rewards simply by holding BFUSD in their UM wallets without staking or locking funds. BFUSD maintains its stability through a 105.54% collateralization ratio and a reserve fund containing 1.1 million USDT as of November 17, 2024.
It is important to note that Anchor Protocol had offered a 20% yield on Terraform Lab’s algorithmic stablecoin UST before it collapsed in May 2022. This led many in the community to compare BFUSD to the failed stablecoin.
The crypto exchange giant, however, clarified that BFUSD is not a stablecoin but a reward-bearing margin asset for futures trading, which has yet to be launched. Binance’s customer support further added that i
We współpracy z: https://cryptopotato.com/binance-announces-bfusd-with-high-apy-but-faces-ust-comparisons/
