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L1 Public Chain Somnia Announces Launch of Ecosystem Stablecoin USDso
Mars Finance News, L1 blockchain Somnia announced the launch of an ecological stablecoin USDso, issued and operated by the decentralized stablecoin protocol Frax Finance based on the frxUSD architecture. USDso adopts an over-collateralized model and is backed by assets such as U.S. Treasury bonds, and can be minted 1:1 with assets like USDC. Its revenue distribution mechanism channels reserve income back into the ecosystem, with 90% allocated to DeFi protocols and 10% used for the insurance fund. This stablecoin aims to serve high-frequency trading, DeFi, and on-chain protocol scenarios.