USDH, THE FIRST BITCOIN-BACKED SYNTHETIC DOLLAR, SET TO LAUNCH IN JUNE

Summary from the TLDR Crypto newsletter

Hermetica is launching the first Bitcoin-backed synthetic dollar, USDh, in June, offering a 25% yield to users. It argues the yield is sustainable because it is based on futures funding rates and a demand for Bitcoin futures. The company says that USDh will be a pivotal asset for increasing liquidity and functionality in Bitcoin DeFi.