KEY TAKEAWAYS
- Deep Blue’s DBUSD stablecoin leverages Wormhole’s NTT framework to enable multichain interoperability, enhancing DeFi ecosystems.
- DBUSD aims to overcome liquidity fragmentation and security risks by operating across Ethereum, Arbitrum, and Solana without relying on wrapped assets.
- Wormhole’s NTT framework ensures secure and seamless native token transfers across blockchains, supporting DBUSD’s multichain expansion.
- The phased rollout of DBUSD will allow users to mint and trade the stablecoin across multiple blockchain networks, promoting financial inclusion.
Amid the modular expansion and the inevitable onboarding of institutions to Web3, unifying liquidity across emerging blockchains has become essential. Deep Blue’s DBUSD is a next-generation stablecoin leveraging Wormhole’s Native Token Transfers (NTT) open framework to go natively multichain. In expanding to Arbitrum and Solana from Ethereum mainnet, DBUSD is poised to usher in a new era of decentralized finance (DeFi), fueled by multichain stablecoins.
What Is Deep Blue (DBUSD)?
Deep Blue is a next-generation, Jersey-based stablecoin issuer dedicated to enhancing global financial inclusion through blockchain technology. Its new stablecoin, DBUSD, is securely asset-backed and pegged 1:1 to USD fiat.
Built on Wormhole’s NTT framework, DBUSD is designed to offer a seamless multichain experience without compromising security or stability. Traditional stablecoins often face limitations due to their single-chain architecture, resulting in liquidity fragmentation and security risks introduced by wrapped assets. DBUSD, built on Wormhole’s NTT, overcomes these challenges. It will operate unbound by any single chain, creating new opportunities in DeFi ecosystems across all supported blockchains.
DBUSD will initially launch on Ethereum mainnet, with plans to expand to Arbitrum and Solana in the near future. This phased rollout will allow users to mint, trade, and utilize DBUSD across multiple blockchain networks, realizing the full potential of multichain interoperability.
What is NTT?
Wormhole NTT (Native Token Transfers) is a flexible and open framework for seamlessly transferring native tokens across chains while preserving the intrinsic properties on all networks. Built on Wormhole’s battle-tested infrastructure and secured by the Guardian Network, NTT tokens meet the highest security standards.
The framework’s reliability is evidenced by its widespread industry adoption, with NTT already powering multichain tokens for leading protocols such as Lido’s wstETH, JitoSOL, ether.fi, Renzo, and Stakewise.
Why NTT?
By integrating with NTT, Deep Blue can easily take DBUSD multichain. The framework is designed for flexibility, supporting long-term protocol growth and facilitating easy expansion to additional chains.
Deep Blue retains full control over its tokens’ behavior on each chain, including aspects such as customizability, metadata management, contract ownership, or upgradeability. This ensures compatibility with any token standard or governance system, offering unparalleled flexibility and adaptability.
DBUSD will be deployed on Arbitrum and Solana using NTT’s “burn and mint” mode. This allows for a unified supply that is managed and maintained across all supported chains, completely eliminating the need for wrapped tokens. As a result, it solves liquidity fragmentation, improves security, and enables a more seamless user experience.
For more information, the announcement can be found here.
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