Hermetica
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The Problem

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Last updated 6 months ago

Stablecoins are broken.

1. 0% APY

Most stablecoins offer 0% APY. Without yield, your USD-denominated stablecoin is losing value every day due to inflation.

2. Fiat-Backed

Most stablecoins (like USDC and Tether) rely on the traditional banking system. This means these stablecoins are dependent on that system to remain:

  • Operational and solvent

  • Friendly to crypto

These dependencies have been challenged recently, evidenced by the Silicon Valley Bank crisis which led USDC to trade 12% below peg. Read more .

There is no yield-bearing dollar that is backed by the hardest asset in the world (BTC) and native to the most secure Blockchain (Bitcoin).

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