Today, the decentralized USN Stablecoin was launched on the Near Protocol network. Stablecoin can already be checked out in the official Near blockchain reviewer.
USN is a decentralized stablecoin similar to TerraUSD (UST) and Frax Finance (FRAX), which are linked to the US dollar but have no cash reserves in dollars.
DAO Decentral Bank is reportedly responsible for developing the coin.
Stablecoin will be backed by reserves in NEAR and USDT. The amount of the reserve remains unknown.