Solana DeFi users can now swap wrapped stables via a Mercurial Finance liquidity pool.
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. The yield currently sits at 33%.
- 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.