Etna is a new stable coin that works based on the Ethereum network. This stable coin, which has nothing to do with traditional financial markets, will be registered in the exchanges in the third quarter of this year. Etna has so far raised $6.5 million for the development of this stablecoin.
Etna protocol based on the ethereum network, the main goal of this stable coin is to achieve a stable coin. This protocol will be registered in the third quarter of this year in reliable exchanges such as OKx, Bybit, Qucoin.
From Etna’s point of view, this stablecoin has a market of more than 130 billion dollars, which has nothing to do with traditional financial markets.
The new stablecoin is ready to be registered in global cryptocurrency exchanges. This protocol can provide the biggest opportunity for digital currencies, and in this regard, it should be said that there will be two phases for the release of this token.
Athena plans to issue their financial instruments in two phases. The first one includes the rollout of usde, an on-chain collateral derivatives-based stablecoin product, estimated to be available by Q3 2023, using the funds raised during this round.
A later phase will include issuing what Athena calls the internet bond. The internet bond is projected to behave as a traditional U.S. bond. treasury without being linked to any central bank or financial institution, building on staked Ethereum deposits and usde, developing “the first globally accessible and permissionless crypto savings instrument.”
Dragonfly general partner Tom Schmidt reinforced the relevance of a truly decentralized, stable, and capital-efficient stablecoin product due to the growth of the usage of stablecoins around the world for savings and remittance-related uses.
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