Reeve Collins, one of the original architects behind Tether USD (USDT), supports a new prodigious Stablecoin project called Pi Protocol.
Collins co -founded Tether alongside Brock Pierce and Craig Sellars and was his first CEO from 2013 to 2015.
According to a Bloomberg report, the decentralized stablecoin will be launched in the second half of 2025 and will initially be available on Ethereum and Solana.
USP is Pi Protocol stable, which is struck using smart contracts. Stablecoin will be over-collateralized with assets such as US Treasury Bonus, money market funds and insurance products.
Collins said in an interview:
“We consider the Pi protocol as the evolution of stablecoins. Tether was extremely successful in the presentation of the stablecoins demand. But they keep all the yield. We believe 10 years later, the market is really ready to evolve. »»
He added that the Pi protocol aims to capitalize on the expansion stable market and the growing role of real assets in crypto.
In addition, the penetration of the USP will reward users with another token, the USI, whose details have not been disclosed.
The project official website Also mentions USPI, a non -budgetary token bearing the yield (NFT). Holders will receive part of the platform income, which comes from various sources, including the yield of Stablecoin’s strike.
USPI holders will also have a decision -making power and will vote on risk parameters, collateral policies and income distribution. The team and the PI advisers received 25% of the governance tokens supply, with an ongoing pre-sale.
Importance of yield stable stables
Vlad Tenev, CEO of Robinhood, recently warned in a Bloomberg television interview that Stablecoins must offer increased alternatives to compete with other methods of detention and transaction of dollars.
He added that although the cash registered in banks could accumulate a yield of 4% in a high interest environment, the supply of this yield via stablescoins is not simple.
The USDE offered holders an annual return of almost 30% (APY), but its dynamic rebalancing has decreased the yield to 6% with regard to press time. Ethena Labs Stablecoin is the third largest on the market, exceeding the veteran DAI of around 1.5 billion dollars.
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