At Stable Jack, we have been building the first yield-bearing stablecoin on Avalanche for the last six months. We are glad to share that we are going to launch on mainnet soon!

After grinding for months to find a model that is both scalable and decentralized, we concluded that liquid staking tokens could be a great solution for us.

When thinking about the LST ecosystem on Avalanche, BENQI is the first protocol that comes to everyone’s mind. After connecting with the BENQI team, they wrote Stable Jack’s first angel check, an invaluable support that opened so many doors for us.

As we are launching our protocol on mainnet soon, we are happy to announce our partnership with BENQI!

What does the partnership look like?

At Stable Jack, users can deposit $USDC, $USDT, $AVAX, or $sAVAX as collateral to mint $aUSD or $xAVAX. The protocol converts all assets into $sAVAX so that the protocol can generate LST yield. This increases the $sAVAX supply, unlocks idle assets, and creates new use cases for $sAVAX.

With a strong demand for both $aUSD or $xAVAX from the community, Stable Jack can directly mint $sAVAX, increasing the supply of $sAVAX. This can directly help BENQI to achieve its goals.

On the other hand, BENQI will soon launch isolated lending markets that can attract new demand for the protocol, and $xAVAX and $aUSD can be used as collateral assets after the required liquidity analysis. This will create new use cases for both tokens and increase demand for Stable Jack.

Conclusion

Stable Jack is one of the newcomer projects in the Avalanche ecosystem and we are happy to receive support from the BENQI team since the beginning. We hope that we can bring value to the ecosystem and achieve success!

Let’s grow together!

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