- The VeChain ecosystem has welcomed a green stablecoin, USDGLO, for user benefit.
- The VeChainThor protocol is driving a massive frontier in sustainability initiatives.
The VeChain network continues to gain relevance in the blockchain space for its unique infrastructure. The Glo Dollar Foundation via a recent partnership with the network has launched its USDGLO stablecoin on VeChainThor.
USDGLO Goes Live on VeChainThor
As revealed in the announcement, pairs of USDGLO are now available for trade on VeChain’s decentralized exchange, VeSwap. Users can access the stablecoin through BetterSwap’s aggregator functionality, another decentralized exchange on the VeChainThor blockchain.
The integration will introduce swap functionality between VeUSD and USDGLO. Users can harness this functionality to swap 1:1 the VeUSD stablecoin and recover liquidity. As revealed, the integration also supports the exchange of Glo Dollars to USD or USDC. However, USDC will not launch directly on the VeChain blockchain but on other networks that currently support it.
The partnership benefits both VeChain and the Glo Dollar Foundation. The VeChain Foundation will receive Glo Dollar profits from on-chain activity to purchase B3TR tokens. Subsequently, these tokens will be transferred to the VeBetterDAO treasury to support community governance and proposals within the ecosystem.
Users will participate in this movement simply by transacting with the new stablecoin. VeChain will provide periodic reports on these purchases and donations to ensure transparency and accountability.
Notably, the VeChain network has acquired USDGLO to support community members who currently still hold the redundant VeUSD stablecoin. Furthermore, the transfer of stablecoin donations through the VeChain blockchain renders funds traceable across geographical borders.
Glo Dollar can also help strengthen the VeChainThor ecosystem’s Decentralized Finance (DeFi) platforms. This creates a channel for new liquidity from the border market and provides dApps a way to maintain their treasuries securely.
A Bigger Goal Towards Sustainability
The USDGLO stablecoin brings stability and green liquidity to the VeChain blockchain. The Glo Dollar Foundation is a sustainability-focused organization that uses the power of blockchain and stablecoins. The Foundation uses profits from its treasury to support environmental and sustainable initiatives.
Thus, the Glo Dollar Foundation, through its sustainability-focused stablecoin, enhances the VeBetter ecosystem in multiple ways. It offers new tools to support developers, Applications, and users in the VeChain ecosystem.
The network can use Glo Dollars in addition to B3TR to incentivize sustainable actions like litter cleanup (Cleanify), reusable cup usage (Mugshot), and shopping (GreenCart).
As noted in our earlier post, VeChain’s VeBetter DAO has made waves in the world of sustainability. In January, the Decentralized Autonomous Organization (DAO) achieved a remarkable milestone, with 3.24 million eco-friendly actions completed by users.
VeChain also integrated with Decentralized Better Action Networks (DeBAN), positioning itself at the forefront of sustainability-focused blockchain initiatives. As CNF mentioned, DeBAN introduces a more practical approach by combining GreenTech, Regenerative Finance (ReFi), and AI-driven personalization.
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