MarginFi, ranked sixth on Solana by TVL, plans to introduce XBY, a decentralized stablecoin that accrues yield, to collateralize Solana's liquid staking techniques (LSTs), reducing the network's reliance on USDC. Despite the recent resignation of MarginFi's co-founder and CEO, Edgar Pavlovsky, the project is still set to launch this month, with committed liquidity of around $12 million.

May 12, 2024 at 02:21 am

MarginFi, a leading DeFi protocol on Solana, announces plans to launch XBY, a yield-bearing decentralized stablecoin, later this month. XBY aims to reduce Solana's reliance on centralized stablecoins like USDC by being fully collateralized by SOL-based liquid staking protocols (LSTs). Despite the recent departure of CEO Edgar Pavlovsky, MarginFi remains committed to launching XBY and introducing a governance token in the future. The stablecoin is expected to offer substantial yield earning opportunities, as it will initially source yields from staking rewards and later incorporate MarginFi lending yields. MarginFi also plans to launch a "built-in stableswap" feature that allows users to trade between stablecoins while earning lending yields and swap fees.

May 11, 2024 at 09:00 pm

MarginFi, Solana's sixth-largest DeFi protocol, plans to launch its yield-accruing decentralized stablecoin XBY this month. The stablecoin, backed by SOL-based liquid staking protocols, aims to reduce Solana's reliance on centralized stablecoins. Despite the recent departure of CEO Edgar Pavlovsky, MarginFi confirms its commitment to decentralization and plans to introduce a governance token in the future.

May 11, 2024 at 08:01 pm

Today's crypto market has seen a surge in value, with the global market cap rising 1.8% to $2.63T. Bitcoin and Ethereum led the gains, with Bitcoin posting notable gains and Ethereum rising 1.3%. Jasmy Coin, Neo, and Helium also experienced significant pumps. Technical analysis indicates potential resistance levels for Bitcoin and a possible trend change for Ethereum. Jasmy Coin is showing strong bullish momentum, while Neo has broken above the Ichimoku Cloud. Helium is trading within a rising channel, indicating a short-term uptrend.

Apr 11, 2024 at 05:15 pm