What is Hermetica USDh?

USDh is a Bitcoin-backed stablecoin designed to provide yield, operating on both Bitcoin Layer 1 and Layer 2 networks. It is structured by coupling Bitcoin with a short perpetual futures position to create a synthetic dollar, functioning outside the traditional fiat banking system.

The short perpetual futures position is intended to generate funding rate payments, potentially offering users a yield of up to 25% APY through staking. The project aims to facilitate financial freedom on a global scale, although specific governance models and supply cap details are not provided.