Posted 4 months ago | by @devadmin
Our Chainlink Proof of Reserve integration will bring secure, reliable, and efficient minting and auditing of Fuse Network’s collateralized stable coin FuseDollar (fUSD), ensuring it is 100% backed by USD Coin (USDC) deposited in a dedicated Ethereum smart contract.
Fuse Network is developing into a strong and independent decentralized finance (DeFi) institution now with over 5 million total transactions and reaching an all-time high in total value locked (TVL) of $8.6 million. However, interoperability with the wider blockchain ecosystem remains a core part of our strategy. Part of doing so means leveraging the best innovations in the space to provide an optimal user experience.
One of these innovations is stable coins, which have been game-changing for industry growth. The top two stable coins by market capitalization — Tether’s USDT and Circle’s USDC — have grown exponentially in utilization and quality of issuance over the last few years, with total values at the time of writing of $32 billion and $7.3 billion, respectively.
As announced in a recent article, Fuse is launching its own network-native stable coin to bolster ecosystem growth, boost liquidity, and power Fuse Cash — the upcoming mobile payments wallet intended for the consumer market.
Original article published on Fuse Network’s Medium.