Lido launches 'EarnUSD' stablecoin yield vault

Ethereum staking platform Lido has launched EarnUSD, a stablecoin-based yield vault, CoinDesk reported. The vault, which is Lido's first dollar-pegged stablecoin product, automatically allocates deposited USDC and USDT to lending markets on the Ethereum network and other DeFi yield strategies. Users receive EarnUSD tokens representing their share in the vault, and returns on the deposited assets are compounded.