DesoDollar: The new stablecoin disrupting the trillion-dollar VC industry

Takeaways: 

  • DeSo, a new blockchain that has raised $200 million from Coinbase, Sequoia, and Andreessen Horowitz, just launched a gasless, 1:1 fiat-backed stablecoin 
  • DAODAO will be the first app in the ecosystem to support it by allowing founders to avoid unnecessary volatility by raising funds and maintaining a treasury in USDC 
  • DeSoDollar lays the groundwork for the upcoming launch of MegaSwap, unlocking user growth and liquidity for founders and builders in all blockchain ecosystems

The DeSo blockchain is pleased to announce the launch of their new gasless, 1:1 fiat-backed stablecoin DesoDollar. This breakthrough coin allows millions of Ethereum MetaMask users to enter the DeSo ecosystem with USDC. DAODAO is the first app in the DeSo ecosystem to leverage the DesoDollar by allowing founders to raise capital for their startup with USDC.  

As a result, DesoDollar will enable founders to launch, build and scale their crypto startups without dealing with unnecessary volatility. Fundraising on DAODAO is as easy as creating a social media account, and funds are automatically converted to DesoDollar.  

When founders or token holders need liquidity, they can cash out seamlessly to USDC or trade on one of the fastest order book exchange in the world. Web3 users can easily participate in the DeSo ecosystem thanks to the DesoDollar. 

“For the first time, there’s a standardized platform that allows anyone in the world to invest in your startup with the opportunity for instant liquidity for tokens of your startup to trade immediately on the fastest order book exchange in the world.” – said Founder of DeSo Nader Al-Naji. 

DesoDollar will play a vital role in the DeSo ecosystem moving forwards for the onboarding and offboarding funds from different blockchain ecosystems. In addition, it lays the groundwork for the next major release on the DeSo roadmap: MegaSwap, a cross-chain smart service that allows users to swap coins/tokens between blockchains using their non-custodial wallets. 

“DeSo is the only blockchain that could support something like this today,” says Nader Al-Naji, the creator of DeSo. “It costs about $75 to store a 200-character message on Ethereum and about fifteen cents to store it on Solana, Avalanche, or Polygon. In contrast, DeSo is one ten-thousandth of a cent, making it the first blockchain capable of disrupting storage-heavy applications like social media apps,” Al-Naji adds. 

All you need to do to get DesoDollar is deposit USDC from MetaMask via another DeSo app and receive DesoDollar.  

This is the latest in a recent string of successes for DeSo. Earlier this year, the platform listed on Coinbase announced a groundbreaking MetaMask integration last week that caused a significant price surge and increased new users to the platform. In addition, many new social apps like Diamond, a web3 social network built on DeSo, have launched and are experiencing a recent surge in user numbers.  

Learn more and claim your profile at deso.com. 

This post is commissioned by DeSo and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.


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