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Cryptocurrency News Articles
Stable++ Protocol Launched on CKB Mainnet, Targeting Bitcoin and RGB++ Ecosystems
Oct 18, 2024 at 05:12 pm
On October 18, the Stable++ protocol was officially launched on the CKB mainnet. As the first over-collateralized stablecoin protocol developed on CKB, Stable++ serves both the Bitcoin and RGB++ ecosystems.
Stable++ protocol, a CKB-based project, was officially launched on the CKB mainnet on October 18. As the first over-collateralized stablecoin protocol developed on CKB, Stable++ serves both the Bitcoin and RGB++ ecosystems. The protocol supports BTC and CKB as collateral to mint the first RGB++ stablecoin, RUSD.
Stable++ aims to introduce a native asset-based, over-collateralized decentralized stablecoin to the Bitcoin and RGB++ ecosystems. By leveraging technologies such as RGB++ and the CKB Lightning Network, Stable++ provides support for payments, lending, trading, and other scenarios within the ecosystem.
According to the announcement, Stable++ is a Layer2 over-collateralized stablecoin protocol built on RGB++. The protocol is designed to provide a stable and reliable store of value within the Bitcoin ecosystem.
On the other hand, CKB is the first fully BTC-isomorphic L2 (PoW+UTXO) solution, offering a more decentralized, secure, and Bitcoin-compatible L2. CKB scales Bitcoin’s programmability and interoperability with the RGB++ protocol, which maps Bitcoin UTXOs to CKB Cells. This enables the seamless transfer of Bitcoin L1 UTXO-based assets such as Ordinals, Atomicals, and Taproot, to CKB without any cross-chain bridge and vice versa.
Moreover, UTXO Stack, a Bitcoin L2 “OP Stack” secured by CKB and powered by RGB++, enables high-performance parallel chains, offering near-unlimited scalability without compromising security. CKB Lightning Network will connect with Bitcoin’s Lightning Network, facilitating a bi-directional, censorship-resistant, permissionless and trustless flow of assets between the two networks.
To conclude, CKB mainnet was launched in November 2019 and completed its first mining reward halving in November 2023.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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