Certo Expands Testnet to Include USDC Deposits for stUSD, Its Interest-Earning Stablecoin

Zurich, Switzerland, July 8th, 2024 – Chainwire

Key Highlights:

• The Certo protocol, known for its decentralized stablecoin lending, has expanded to include support for USDC deposits and borrowing, in addition to its existing support for USDT.
• The newly introduced stUSD is an interest-earning stablecoin that leverages Certo, a peer-to-peer lending protocol designed to integrate with tokenized real-world assets, particularly U.S. Treasuries.

Certo is a groundbreaking initiative in the decentralized finance (DeFi) landscape, serving as a peer-to-peer lending platform that incorporates real-world assets. This innovative protocol enables the use of tokenized U.S. Treasuries as collateral for lending in stablecoins. Lenders using the platform earn interest from borrowers on traditional stablecoins.

stUSD represents Certo’s dollar-denominated receipt token, functioning as an interest-earning stablecoin. It maintains a stable value in relation to the U.S. dollar by utilizing tokenized U.S. Treasuries as collateral, ensuring price stability. This makes stUSD a dependable medium of exchange and a store of value within the DeFi ecosystem. Notably, stUSD is crafted to yield interest for holders, accumulating over time based on the lending activities occurring through Certo, positioning it as an attractive choice for stability and returns amidst the fluctuating cryptocurrency market.

Certo has been diligently developed with the vision of bridging DeFi and real-world assets. Initially, when the platform’s testnet launched earlier this year, it exclusively allowed transactions with USDT, a prominent stablecoin. This phase enabled Certo to validate its systems, enhance security protocols, and gather constructive feedback from early users in a controlled environment.

The latest advancement sees Certo introducing support for USDC deposits and borrowing on its testnet. This is a crucial enhancement, as USDC is widely accepted across both financial and cryptocurrency sectors. By incorporating USDC, Certo aims to broaden its user base and enhance the platform’s functionality, making it more accessible for users to participate in refining and testing its features.

With USDC now part of the ecosystem, users can deposit both USDT and USDC to obtain stUSD, allowing them to monitor how their investments accrue interest within Certo’s interface. This dual-stablecoin option increases convenience and enhances the user experience by illustrating the practical advantages of stUSD in a more flexible framework.

While this announcement signifies a notable step forward, it’s important to remember that Certo is still in the testnet phase. This stage is vital for developers to fine-tune the protocol’s functionality, ensure system stability under various conditions, and secure valuable user feedback. The testnet is critical for Certo to achieve its goal of seamlessly connecting cryptocurrencies with real-world assets, ensuring reliable and effective operation once the platform goes live.

Through these developments, Certo is not only expanding its capabilities but also laying the groundwork for innovative solutions within the financial technology sector.

About Certo:

Certo is leading the charge in creating a secure, stable, and scalable platform that bridges traditional fiat currencies with the digital economy. With a commitment to security, transparency, and community-centric development, Certo aims to provide a robust foundation for financial transactions globally.

Contact: Certo Finance
Email: [email protected]