By USA Goldmines 
Reeve Collins, one of the original architects behind Tether USD (USDT), is backing a new yield-bearing stablecoin project called Pi Protocol.
Collins co-founded Tether alongside Brock Pierce and Craig Sellars and served as its first CEO from 2013 to 2015.
According to a Bloomberg News report, the decentralized stablecoin will launch in the second half of 2025 and will initially be available on Ethereum and Solana.
USP is Pi Protocol’s stablecoin, which is minted using smart contracts. The stablecoin will be over-collateralized with assets such as US Treasuries, money-market funds, and insurance products.
Collins said in an interview:
“We view Pi Protocol as the evolution of stablecoins. Tether has been extremely successful in showcasing demand for stablecoins. But they keep all the yield. We believe 10 years later, the market is really ready to evolve.”
He added that Pi Protocol aims to capitalize on the expanding stablecoin market and the growing role of real-world assets in crypto.
Additionally, minting USP will reward users with another token, the USI, whose details were not disclosed.
The project’s official website also mentions USPi, a yield-bearing non-fungible token (NFT). Holders will receive a share of the platform’s revenue, which comes from various sources, including yield from stablecoin minting.
USPi holders will also have decision-making power and will vote on risk parameters, collateral policies, and revenue distribution. Pi’s team and advisors have been allocated 25% of the governance token supply, with a pre-sale underway.
Importance of yield-bearing stablecoins
Vlad Tenev, CEO of Robinhood, recently warned during a Bloomberg TV interview that stablecoins must offer yield-accrual alternatives to compete with other methods of holding and transacting dollars.
He added that although cash deposited in banks can accrue a 4% yield in a high-interest environment, offering this yield through stablecoins is not simple.
USDe offered holders a nearly 30% annual percentage yield (APY), but its dynamic rebalancing decreased the yield to 6% as of press time. Ethena Labs’ stablecoin is the third-largest in the market, surpassing veteran DAI by roughly $1.5 billion.
The post Tether co-founder backs new yield-bearing decentralized stablecoin appeared first on CryptoSlate.
Reeve Collins, one of the original architects behind Tether USD (USDT), is backing a new yield-bearing stablecoin project called Pi Protocol. Collins co-founded Tether alongside Brock Pierce and Craig Sellars and served as its first CEO from 2013 to 2015. According to a Bloomberg News report, the decentralized stablecoin will launch in the second half
The post Tether co-founder backs new yield-bearing decentralized stablecoin appeared first on CryptoSlate. Crypto, Featured, Stablecoins
This articles is written by : Nermeen Nabil Khear Abdelmalak
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