USDLR is a fiat-backed stablecoin developed by Stable. Stable pays affiliates, such as DeFi protocols and crypto companies, on their users' USDLR deposits.
Stable believes in rewarding affiliates for their role in driving demand for USDLR.Stable creates an additional revenue source for affiliates by paying them up to 10% (annualized) on the amount of their users' USDLR deposits. Depending on the amount of users' USDLR deposits, this could represent a substantial increase in revenue which can be used for operations or to fuel growth.
Just like USDC, any non-sanctioned wallet address can acquire USDLR and freely hold, transfer, trade or participate in DeFi activity with it. Only non-US institutions that have Stable accounts can mint and redeem USDLR.
Pegged to the U.S. Dollar.
100% backed by cash and cash equivalents, which are held at the most trusted regulated financial institutions.
Redeemable 1:1 for U.S. Dollars by non-US institutions.
Reserve assets held by a separate entity, segregated from Stable's corporate assets.
Weekly third party attestations.
Stable is the company that develops USDLR, similar to how Circle is the company behind USDC. Stable is backed by leading crypto funds such as Polychain and Dragonfly. The team has worked at some of the most reputable finance and tech companies such as Brex, Lazard, Flexport and Uber.