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DeFi Protocol Hermetica Introduces First Ever Bitcoin-Backed Synthetic Dollar

Hermetica, a cutting-edge DeFi protocol built on Bitcoin, is proud to announce the launch of USDh, the first-ever Bitcoin-backed synthetic dollar. Slated for release next month, USDh offers yield of up to 25%, enabling Bitcoiners to hold dollars, earn significant yield, and remain fully integrated within the Bitcoin ecosystem – all without the need for traditional banking or fiat currency.

USDh represents a pivotal innovation for crypto enthusiasts seeking to diversify their holdings without leaving the security of the Bitcoin blockchain, a common ambition of many Bitcoiners. This novel financial product benefits from the robustness of Bitcoin-backed security, allowing for a seamless, lucrative interaction with digital assets.

“We are excited to address some of the biggest problems in the Bitcoin ecosystem today,” said Jakob Shillinger, CEO of Hermetica. “Soon you will be able to hold dollars without watching them inflate away while staying completely outside the traditional banking system; no banks, no fiat – just Bitcoin. A stablecoin backed by the hardest asset in the world (BTC) that is native to the most secure Blockchain (Bitcoin).”

Two Prime, a leading SEC-registered institutional asset manager and backer of Hermetica, supports the protocol’s mission. Alexander Blume, Managing Partner of Two Prime, said, “We have thoroughly analyzed the existing market and know Hermetica and Two Prime can deliver the first Bitcoin-backed synthetic dollar with strong yield, institutional risk controls, and superior collateral management.”

“We are excited to partner with Hermetica to bring these products to the Bitcoin ecosystem.”

Users interested in gaining early access to USDh are encouraged to join Hermetica’s waiting list at hermetica.fi. Hermetica’s initial offerings have already demonstrated significant market traction, with its first token achieving $1M in Total Value Locked (TVL) within a week of its private whitelist launch. The protocol was built by a crypto-native team with previous experience at Kraken, Bloomberg, and State Street.

According to the Hermetica whitepaper, the team’s ultimate goal is to build an open financial system that unlocks services previously reserved for institutions and high-net-worth individuals, making them available to everyone.

About Hermetica:Hermetica is a Bitcoin backed, yield-bearing synthetic dollar protocol native to Runes and Stacks. Hermetica empowers people to hold dollars that earn a Bitcoin-native yield. With its innovative approach to DeFi, Hermetica is redefining how users interact with digital assets on the world’s most secure blockchain.