Decibel, an Aptos-based DeFi project, has unveiled its own stablecoin, USDCBL, ahead of a planned mainnet launch in February, Cointelegraph reported on Wednesday.
USDCBL is used as collateral for on-chain derivatives trading. Decibel aims to reduce reliance on external stablecoins through USDCBL and strengthen the protocol’s internal economy.
When users deposit existing USDC, it is converted into USDCBL.
USDCBL is issued through a bridge-open issuance platform and is backed by cash and U.S. short-term Treasury securities. Trading revenue will remain within the protocol and is expected to be reinvested in future development and ecosystem expansion. Decibel stressed that it is “not simply issuing a stablecoin, but building the exchange’s core infrastructure.”
Chi-gyu Hwang
delight@d-today.co.kr