L1 public chain Somnia announces the launch of the ecosystem stablecoin USDso
According to ChainCatcher, L1 public chain Somnia has announced the launch of its ecosystem stablecoin USDso, which is issued and operated by the decentralized stablecoin protocol Frax Finance based on the frxUSD architecture.
USDso adopts an over-collateralization model, with assets such as US Treasury bonds serving as reserve backing, and can be minted 1:1 with assets like USDC. Its profit distribution mechanism channels reserve income back into the ecosystem, with 90% allocated to DeFi protocols and 10% used for an insurance fund. This stablecoin is designed to serve high-frequency trading, DeFi, and on-chain protocol scenarios.
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