Initia Launches Native Stablecoin iUSD

Foresight News reports that the all-chain Rollup L1 network Initia has launched its native stablecoin iUSD. iUSD is backed by Agora's AUSD and bridged to Initia via LayerZero. According to the official statement, unlike other stablecoins where profits go to the issuer, iUSD will flow back into the ecosystem. Users can provide liquidity for the iUSD-USDC and INIT-iUSD trading pools on Initia DEX; lend iUSD on Echelon (coming soon); and deposit iUSD into The Cabal treasury (coming soon).