Euler Finance, a well-known decentralized finance (DeFi) lending tool, has shared that its new hybrid stablecoin, Maxi, will be available soon. Euler Labs made the statement on September 16. It is a major step forward in the DeFi space.
Maxi is a customized loan product that is meant to help people make better use of their capital. Euler Finance says that Maxi uses cross-collateralization to make the best use of capital and improve risk management. It does this by combining different types of assets.
Euler Finance’s New Stablecoin
There are many types of assets that back the stablecoin, such as tokenized government bills, yield-bearing tokens, fake dollars, and stablecoins backed by fiat currency. Maxi is backed by Ondo Finance’s U.S. tokenized Treasury bill, called Ondo U.S. Dollar Yield (USDY), and Usual Money’s stablecoin USD0, which is backed by real assets.
The stablecoin is also backed by Ethena’s fake dollar USDe and the fake dollars sUSDe and stUSD, which pay interest. Maxi’s assets also include Circle’s stablecoin USD, which is known all over the world.
Maxi’s security and efficiency will be improved by this strategic asset mix, which will make it a strong choice in the DeFi lending market. Euler Finance’s dedication to new ideas and better financial solutions in the decentralized finance environment is shown by the launch of Maxi.
