Disclaimer: The information presented is not financial advice from CoinGecko. The information shown here may carry risks of smart contract failure and impermanent loss. Always DYOR and only invest what you are willing to lose. Share your feedback on our Gecko Ramblings series!
What our analysts are rambling about 🔍
Bluejay Finance
Bluejay Finance, a decentralized stablecoin platform, is now live on the Rinkeby testnet. The protocol plans to issue pegged stablecoins that are backed by the protocol's liquidity through a bonding mechanism. For example, using DAI or LP tokens, users can purchase bonds for the native token, BLU, at a discounted price.
Their first stablecoin, bluSGD, which is pegged to Singaporean dollars, is slated to be launched in Q4 2022. But for now, you can play around with the protocol's features for a chance to be whitelisted for the actual token launch in the future.
