Sei Network launches stablecoin in partnership with Elixir and DragonSwap

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The Sei blockchain announced this Wednesday (16) the launch of its new stablecoin, called fastUSD. This native stablecoin, launched in partnership with the Elixir network infrastructure, promises to bring a series of innovations to Sei's DeFi ecosystem, offering a stable asset with built-in yield.

fastUSD comes to the market in order to increase liquidity on order book-based decentralized exchanges (DEXs). At the same time, it facilitates integration with different blockchains.

The fastUSD stablecoin represents a new central liquidity component in the Sei ecosystem, functioning as a fully collateralized asset with native yield.

Unlike other stablecoins, which only maintain parity with the dollar, fastUSD also offers yield on the asset, making it an attractive choice for traders and investors looking to maximize their opportunities within the decentralized environment.

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SIX stablecoins

The Sei team highlighted that fastUSD increases liquidity in order book DEXs, which is essential for the sustainable growth of the platform.

Additionally, this stablecoin seamlessly integrates with multiple blockchains, providing traders with greater flexibility and access to diverse markets. This multichain capability is important to ensure that Sei users can efficiently move assets between different networks without friction.

Another important aspect is that fastUSD facilitates the process of provisioning liquidity in order books, simplifying the participation of traders and investors.

Furthermore, the platform allows Sei's DEXs to integrate the Elixir Protocol, further expanding the possibilities for trading and leverage within the ecosystem.

Elixir plays a key role in the creation of fastUSD. The company brought to Sei the necessary technology to guarantee the stability and performance of the new asset. fastUSD is fully collateralized by deUSD, Elixir's synthetic currency, which uses a combination of assets such as stETH and sDAI to ensure its security. This “overcollateralization” provides an additional layer of protection.

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