According to Andrei Grachev, CEO of DWF Labs, DWF Labs-backed Stablecoin Venture, Falcon Stable or USDF are integrated into the Kaia chain.
DWF Labs CEO and Head of FalconStable, in a recent post, Andrei Grachev announced that USD-backed Stablecoin has been fully integrated into the Kaia (Kaia) chain. This partnership allows synthetic stubcoins to be embedded into the Line Messenger ecosystem via KAIA.
“Together we will provide sustainable and innovative Stablecoin Ildo Solutions for over 250 million line users!” Grachev said in his recent post.
By integrating USDF into the Kaia chain, Line users can access Stablecoin and earn passive yields from SUSDF’s SUSDF.
Falcon Stable is a Stablecoin venture founded by Falcon Financial of DWF Labs. Falcon Stable is a synthetic Stablecoin protocol from DWF Labs that allows users to mint yielding US dollar peg tokens called USDF.
Unlike most Stablecoins, Falcon’s USDF allows users to deposit a variety of digital assets, including other Stablecoins such as USDcoins (USDC) and Tether (USDT), as well as major tokens such as Bitcoin (BTC) and ETH (ETH). These different assets are used as collateral for Mint USDF.
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Stablecoin also offers yields to owners who built the USDF. The created USDF bets to receive SUSDF, the version with interest that yields yields at APYs above 22%. At the time of pressing, Stablecoin accumulated a market capitalization of nearly $560 million and a 24-hour trading volume of over $1.7 million.
Kaia Chain serves as the main Web3 infrastructure for messaging platform Line. Kaia features Mini Dapp and Dapp portals within Line’s messaging app, allowing users to seamlessly access and interact with distributed applications without the need for Web3 onboarding.
Line is a popular messaging platform among East Asians, with a user base of over 250 million registered.
Last August, the line began diving into Web3 with an integration with Mini Dapps equipped with Kaia Blockchain. The Kaia DLT Foundation is an independent institution born from the merger of two prominent blockchain projects from Line and South Korean technology giant Cacao. The blockchain combines the Line’s Finschia blockchain with Kakao’s Klaytn blockchain.
read more: Line Messenger and showcase Mini Dapps via Kaia Blockchain