One of the original architects behind Tether USD (USDT), Reeve Collins is supporting the Stablecoin project, which includes a new yield called the PI Protocol.
Collins co-founded Tether with Brock Pierce and Craig Sellers, serving as the first CEO from 2013 to 2015.
According to a Bloomberg news report, the decentralized stubcoin will be released in late 2025 and will initially be available for Ethereum and Solana.
The USP is a PI Protocol Stablecoin, cast using smart contracts. Stablecoin is over-collateralized with assets such as the US Treasury Department, money market funds, and insurance products.
Collins said in an interview:
“The PI protocol considers it an evolution of Stablecoins. Tethers are very successful in introducing the demand for stubcoins. But they maintain all the yields. Ten years later, the market will be I really believe we are ready to evolve.”
He added that the PI protocol aims to capitalize on the growing Stablecoin market and the growing role of real-world assets in Crypto.
Additionally, Minting USP rewards users with USI, another token with no details revealed.
Project's Official Website It also mentions USPI, a non-fungable token (NFT) containing yield. Holders receive a share of the platform's revenues from a variety of sources, including yields from Stablecoin Minting.
USPI owners also have decision-making power and vote on risk parameters, collateral policies, and revenue distribution. PI teams and advisors have been allocated 25% of the supply of governance tokens and are ongoing before sales.
The importance of stubcoins including harvest
Robinhood CEO Vlad Tenev warned in a recent Bloomberg television interview that Stablecoins must provide yield and calculation alternatives to compete with other ways to hold and trade dollars. did.
He added that cash deposited in the bank can earn 4% in a high-interest environment, but providing this yield through stubcoin is not simple.
USDE provided holders with an annual yield (APY) of nearly 30% per year, but its dynamic rebalance reduced yield to 6% at press time. Ethena Labs' Stablecoin is the third largest in the market, roughly $1.5 billion ahead of veteran Dai.
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