Summary
TLDR: Palladium and Botanix Labs have launched PUSD stablecoin on Bitcoin’s first EVM Layer 2 network, over-collateralized by 110% for resilience. The stablecoin aims to be immune to governance changes and manipulation, enhancing security and reliability for users. The Botanix EVM platform and Spiderchain protocol play a key role in safeguarding funds and meeting the growing demand for secure DeFi solutions on the Bitcoin blockchain.
Key Points
1. Palladium and Botanix Labs have announced the launch of a new stablecoin, PUSD, on Bitcoin’s first EVM-equivalent Layer 2 network.
2. The PUSD stablecoin is over-collateralized by 110% and has an algorithmic monetary policy designed to remain immune to governance changes or manipulation, ensuring its integrity and reliability.
3. Operating on the Botanix EVM, Palladium leverages the platform’s capabilities to enhance the security and accessibility of stablecoin transactions for Bitcoin users, aiming to meet the growing demand for secure and efficient DeFi solutions on the Bitcoin blockchain.