💰Bitcoin-Backed Synthetic Dollar Promises High Yields for DeFi Users
Jakob Schillinger, founder and CEO of Hermetica, believes USDh will be a game-changer for Bitcoin DeFi. It will allow users to earn interest on their dollar holdings without leaving the Bitcoin network or relying on traditional financial institutions. This functionality caters specifically to Bitcoin enthusiasts who may be hesitant to venture outside the Bitcoin ecosystem. Hermetica is a DeFi protocol built on the Stacks blockchain, a layer-one solution designed to bring smart contract functionality to Bitcoin.
💰Bitcoin-Backed Synthetic Dollar Promises High Yields for DeFi Users
Jakob Schillinger, founder and CEO of Hermetica, believes USDh will be a game-changer for Bitcoin DeFi. It will allow users to earn interest on their dollar holdings without leaving the Bitcoin network or relying on traditional financial institutions. This functionality caters specifically to Bitcoin enthusiasts who may be hesitant to venture outside the Bitcoin ecosystem. Hermetica is a DeFi protocol built on the Stacks blockchain, a layer-one solution designed to bring smart contract functionality to Bitcoin.
However, analysts are positive on the stock now. “We have seen a huge downside movement in the stock due to the central electricity regulatory commission’s (CERC) order that seems to be negative from 2014-15 onwards but we cannot take a linear negative view on the stock and further downside movement on the stock is unlikely. Currently stock is underpriced. Investors can bet on it for a longer horizon," said Vivek Gupta, director research at CapitalVia Global Research.
