The USDm stablecoin, built with Ethena and backed by tokenized treasuries, will use its yield to subsidize Ethereum sequencer fees. MegaETH, an Ethereum layer-2 protocol backed by Vitalik Buterin, announced the upcoming launch of a yield-bearing stablecoin that might give it a different business model than traditional L2s, which drive revenue through transaction fees.The stablecoin, USDm, is being developed in partnership with Ethena, an algorithmic stablecoin protocol with $13 billion in total value locked (TVL). It will launch on Ethena’s USDtb infrastructure, which channels reserves into BlackRock’s BUIDL — a tokenized US Treasury bill fund with a $2.2 billion market cap and steady yield, according to RWA.xyz.Yield from the stablecoin’s reserves will reportedly be used to offset sequencer fees, the Ethereum gas costs a layer-2 incurs when publishing batches of transactions to the main chain.Read more The USDm stablecoin, built with Ethena and backed by tokenized treasuries, will use its yield to subsidize Ethereum sequencer fees. MegaETH, an Ethereum layer-2 protocol backed by Vitalik Buterin, announced the upcoming launch of a yield-bearing stablecoin that might give it a different business model than traditional L2s, which drive revenue through transaction fees.The stablecoin, USDm, is being developed in partnership with Ethena, an algorithmic stablecoin protocol with $13 billion in total value locked (TVL). It will launch on Ethena’s USDtb infrastructure, which channels reserves into BlackRock’s BUIDL — a tokenized US Treasury bill fund with a $2.2 billion market cap and steady yield, according to RWA.xyz.Yield from the stablecoin’s reserves will reportedly be used to offset sequencer fees, the Ethereum gas costs a layer-2 incurs when publishing batches of transactions to the main chain.Read more