Hassan Maishera
On Monday, the API3 team announced via X that it has partnered with Nerite, a platform that allows users to borrow yield-bearing USND stablecoin at an interest rate they choose.
Nerite has launched USND, a redeemable, yield-bearing stablecoin on Arbitrum. Users can borrow against ETH, LSDs, ARB, COMP, tBTC, and more to mint USND.
Under the shell, Api3’s first-party oracles power USND’s collateral price feeds with verifiable data. Nerite adopts OEV-powered feeds to recapture value from liquidations and protocol actions.
API3 is a data oracle that enables APIs to feed data to blockchain applications directly without third-party middlemen. API3 is trading at $0.691, down 6.75% in the last 24 hours.
