Startale Labs, the core developer of Astar Network (ASTR), has officially announced its new stablecoin project called “Startale USD” (USDSC).
The company aims to create a remarkable product ecosystem by offering a Star Points rewards program alongside a savings system that it claims will allow users to earn returns of up to 14% APY.
Startale USD is defined as a digital currency that tracks the US dollar at a 1:1 ratio. The project was designed with a transparent collateral structure and a clear goal of price stability. With USDSC, users benefit from low transaction fees and fully sponsored gas within the Startale App.
According to claims on its official website, the company is also launching a new rewards system called Star Points. Users earn one point per day for every $100, and the longer they hold their assets, the higher the multiplier they earn. Users who hold for over 150 days can earn points twice as fast. These points can be redeemed for additional benefits and rewards in the future.
However, let us remind you that the price of many stablecoins has suddenly dropped to zero in the past, and we should add that projects promising high returns should be approached with caution.
According to the statement, the collateral structure of Startale USD is based on short-term US Treasury Bills.
*This is not investment advice.