Falcon Finance, developer of the synthetic dollar protocol, announced support for over 16 crypto assets as collateral, allowing users to mint its stablecoin USDf.
Support for New Assets
Falcon now supports a variety of stablecoins and non-stable assets, including USDC, USDT, FDUSD, BTC, and ETH. Recently added assets include MOV, POL, FET, COTI, BEAMX, and DEXE, with plans to further expand the range of accepted collateral as access to the protocol grows.
Staking and Yield
Currently in closed beta, Falcon Finance has over $80M in TVL driven by demand for its synthetic dollar, offering a yield of over 22%. After depositing their preferred crypto asset, users can mint USDf and stake it to generate the yield-bearing sUSDf.
Protocol Prospects and Development
The rapid growth in TVL, which has more than doubled in 30 days, has been supported by a $10M allocation from the DeXE Protocol, whose governance token is one of the supported collateral assets. The closed beta has demonstrated the efficacy and security of Falcon’s protocol for stablecoin issuance. Plans are now in place to exit clos...
Falcon Finance continues to actively develop, supporting various crypto assets for collateral and offering high yields on its products. Future plans include expanding protocol access to all market participants.
