By Nermeen Nabil 
Imagine a dollar that is not only backed by Bitcoin but also lets you earn rewards. That’s USDh – the first Bitcoin-backed synthetic dollar, now live on Stacks, offering up to 25% APY.
USDh changes the staking narrative with its 25% APY. Sounds intriguing, right? Let me walk you through it.
What Exactly is USDh?
USDh is a synthetic dollar operating with Stacks, a platform designed to introduce contracts and DeFi to Bitcoin. What makes the USDh exciting is that it’s built into the Stacks ecosystem, so there is no need to go through the headaches of bridges or wraps to get it. It’s as easy as swapping your Stacks assets (like STX or others) for USDh, and you’re good to go.
Stake USDh for up to 25% APY
Step 1: Head to @HermeticaFi
Step 2: Connect your @XverseApp or @LeatherBTC wallet
Step 3: Stake and start earning immediately pic.twitter.com/uLlg90wBuE
— Hermetica (@HermeticaFi) September 25, 2024
How to Get Your Hands on USDh
It’s super simple:
Go to either Bitflow Finance or VelarBTC.
Swap any Stack asset you own for USDh.
Earning 25% APY by Staking USDh
Here’s where it gets exciting. Once you’ve swapped for USDh, you can stake it and earn up to 25% APY. Yep, you heard that: proper passive income by staking.
To stake:
Visit Hermetica.
Connect your wallet. It can be your Xverse or Leather wallet—both are functional.
Stake your USDh and start earning your rewards.
Stacks’ leading Bitcoin L2 ecosystem continues to grow
Congratulations to @HermeticaFi for the official launch of their USDh stablecoin on Stacks.
To celebrate, Hermetica is offering a prize pool to early movers. More information is available below. 1/2 pic.twitter.com/3EYmefYEPI
— stacks.btc (@Stacks) September 25, 2024
What’s in It for You? (Besides the APY)
Apart from the impressive APY, staking it gives you access to Hermetica’s points system. With this token, you earn points by holding, staking, and LPing. Some of these points increase your standing on the local leaderboard. They give you even more opportunities to collect gifts.
The point of the flat-on-flat cash back cards is to do so with high APY and accumulate the points that might end in something much better.
USDh is live on Stacks
Earn up to 25% APY with the first Bitcoin-backed synthetic dollar. pic.twitter.com/ErDuYhuy4q
— Hermetica (@HermeticaFi) September 25, 2024
Why USDh is a Game-Changer
It sets itself apart because it’s native to Stacks and backed by Bitcoin without needing bridges or more jumping through hoops. You have all the benefits of Bitcoin, the freedom of Stacks, and the ability to earn 25% APY.
USDh is live on Runes
Earn up to 25% APY with the first #Bitcoin backed synthetic dollar.
Get started pic.twitter.com/zBov83kgkr
— Hermetica (@HermeticaFi) July 16, 2024
Conclusion
USDh is a means to earn high rewards in crypto. Because of the security of Bitcoin and the utility of Stacks, it has never been more simple to swap, stake, and earn. They use their unique, hybrid lending system that lets you get up to a 25% APY or rank up on Hermetica’s point system to build wealth. So why wait? Dive into the future of Bitcoin-backed dollars and start earning today.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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Nermeen Nabil Khear