DWF Labs-backed stablecoin venture, Falcon Stable or USDf, has been integrated into Kaia Chain, according to DWF Labs CEO Andrei Grachev.
In a recent post, DWF Labs CEO and Head of FalconStable, Andrei Grachev announced that the USD-backed stablecoin has been fully integrated into the Kaia (KAIA) Chain. The partnership enables the synthetic stablecoin to be embedded into the LINE messenger ecosystem through Kaia.
“Together, we bring sustainable and innovative stablecoin yield solutions for more than 250 Millions of Line users BUIDL!” said Grachev in his recent post.
By integrating USDf into Kaia Chain, LINE users will be able to access the stablecoin and earn passive yield from its staked product, sUSDf.
Falcon Stable is a stablecoin venture established by DWF Labs’ Falcon Financial. Falcon Stable is the DWF Labs’ synthetic stablecoin protocol that enables users to mint a yield-bearing U.S. dollar‑pegged token called USDf.
Unlike most stablecoins, Falcon’s USDf allows users to deposit various digital assets, such as other stablecoins like USD Coin (USDC) and Tether (USDT), major tokens like Bitcoin (BTC) and ETH (ETH) and even tokenized real-world assets into the protocol. These different assets are then used as collateral to mint USDf.
You might also like: Societe Generale-FORGE to launch new USD CoinVertible stablecoin on Ethereum and Solana
The stablecoin also offers yield for holders who stake minted USDf. Minted USDf can be staked to receive sUSDf, an interest-bearing version that accrues yield with an APY that has surpassed 22%. At press time, the stablecoin has accumulated a market cap of nearly $560 million and a 24 hour trading volume of more than $1.7 million.
Kaia Chain serves as the main web3 infrastructure for the messaging platform, LINE. Kaia powers the Mini Dapp and Dapp Portal within LINE’s messaging app, allowing users to seamlessly access and interact with decentralized applications without the need for web3 onboarding.
LINE is a messaging platform popular among East Asians, with a user base of more than 250 million people registered.
Back in August last year, LINE began diving into web3 with the integration of mini dApps powered by Kaia blockchain. The Kaia DLT Foundation is an independent body born from the merger of two prominent blockchain projects, from LINE and South Korean tech giant Kakao. The blockchain combines Line’s Finschia blockchain and Kakao’s Klaytn blockchain.
Read more: LINE messenger to introduce mini dApps via Kaia blockchain