Sonic Labs Launches USSD Stablecoin Pegged to US Dollar, Backed by 1:1 Short-Term U.S. Treasury Assets

Sonic Labs has launched USSD, a USD-pegged stablecoin backed by tokenized U.S. Treasury assets. The stablecoin aims to provide cross-chain liquidity and a stable dollar asset for DeFi on the Sonic network. USSD is backed by real-world financial assets and follows a reserve model similar to Frax, with a clear redemption mechanism. The stablecoin allows users to mint USSD directly on the Sonic network by depositing dollar-based assets at a 1:1 ratio without minting fees. The Treasury assets supporting USSD have the potential to generate revenue for the ecosystem.