TechFlow News — Coin98 Labs has announced the launch of its ecosystem's decentralized stablecoin, Coin98 Dollar (CUSD), which is fully backed by reserve assets. To mint 1 CUSD, collateral assets worth exactly 1 USD must be deposited into the CUSD Reserve smart contract. Coin98 Labs stated that this stablecoin is designed to serve as a cross-chain accounting unit addressing DeFi liquidity needs across chains, unlocking the power of the Coin98 ecosystem. Initial support includes networks such as BNB Chain, Solana, and Ethereum. In the future, CUSD will be deployed on as many blockchains as possible.
Notably, Coin98 Labs is a DeFi product builder focused on creating and developing an ecosystem of DeFi protocols, Web3 applications, and NFTs across multiple blockchains. Read original article
