Mercurial Finance has launched a liquidity pool for Wormhole wrapped stablecoin assets, the decentralized exchange announced Friday.
Mercurial Finance is conceptually similar to Ethereum-native Curve Finance, a decentralized exchange optimized for swapping like-assets such as two different stablecoins. Mercurial is backed by the DeFi Alliance incubator.Wormhole has been expanding aggressively to new asset types, and with new functionalities. Earlier in the month, Wormhole v2 launched to provide a bi-directional bridge for a variety of tokens, including non-fungible tokens (NFTs).In a tweet today, Mercurial Finance wrote that the pools will help ensure the end-to-end decentralization of stablecoin assets on Solana. A press release from Mercurial said that users who provided liquidity to the USDC-wUSDC-wUSDT-wDAI cross-chain pool could earn up to 159.5% APY. CoinDesk could not verify this claim. Jump Trading Group is a lead contributor to Wormhole, and the firm has also backed and helped to develop the Solana-native oracle service Pyth.
We think this is a very important step in making liquidity work seamlessly across chains in a fully decentralized manner, and we have created a step by step guide for you to do so. https://t.co/ftxrLbVRDT
— Mercurial Fi (@MercurialFi) September 24, 2021