The wUSDL/USDT spot market is available on Helix! You can now trade wUSDL with market and limit orders on Helix, the premier on-chain crypto exchange built on Injective.
Read more below to find out more about Paxos and Lift Dollar (USDL), the benefits of trading wUSDL on Helix, and a step-by-step guide on how to trade on Heilx.
Get started here: https://helixapp.com/spot/wusdl-usdt
wUSDL Launches on Injective
Paxos International has officially launched its yield-bearing stablecoin, Wrapped Lift Dollar (wUSDL), on the Injective network. Now users can utilize this new stablecoin across Helix while earning yield by holding the asset. The stablecoin earns yield from short term treasury bills and cash equivalents, this in turn is passed back to the holder of the asset.
What Is Paxos and Lift Dollar (USDL)?
Paxos International is the issuer of USDL which aims to be backed 1:1, for every dollar held in reserves one USDL will exist on-chain. Traditionally, stablecoins are pegged to fiat currencies, but the yield from these reserves—often held in treasury bills—is retained by the issuer. In its native form, USDL generates daily interest, and users receive this yield in the form of dividends that accrue to the user’s wallet.
What Is wUSDL?
wUSDL is a wrapped version of USDL issued by Paxos International. Unlike a rebasing token that increases the number of tokens in circulation to reflect yield, wUSDL's value grows over time, capturing daily dividends from treasury yields. Users can unwrap their wUSDL at any time, converting it back into USDL on Ethereum.
Why Trade wUSDL on Helix
With a diverse array of upgrades and advanced enhancements, Helix is the only truly decentralized derivatives exchange. Helix provides completely unmatched exchange, trading bots, advanced order types, a brand new Swap interface, trading histories, and reward tracking to Injective users. Anyone can use Helix as a crypto cross-chain trading gateway with zero gas fees, best-in-class security, and lightning-fast speeds.
Helix is the first platform to support wUSDL/USDT spot market within the Cosmos ecosystem alongside maker fee rebates, and new ways to earn with every trade.
wUSDL-USDT Market Details
- Base asset: wUSDL
- Quote asset: USDT
- Minimum price tick size: $0.0001 wUSDL
- Minimum quantity step: 0.1
- Fee: -0.01% maker fee; 0.05% taker fee
- Trading hours: 24/7/365
How to Trade wUSDL/USDT on Helix?
In order to trade the wUSDL/USDT spot market on Helix, you will need to have either wUSDL or USDT in your Injective Wallet. The first step is to deposit assets to Injective.
Option 1: Bridge USDT from Ethereum to Injective
- Go to Injective Bridge and connect your wallet;
- Select “Ethereum” from the dropdown menu as the origin source;
- Select “USDT” as the asset to transfer and make sure it has USDT balance;
- Enter the amount of USDT tokens you would like to transfer and click “Review Deposit” and “Confirm”;
- Once the transfer is completed, you can check the USDT balance in your Injective Wallet or the Balances page on Helix.
Option 2: Bridge wUSDL from Ethereum to Injective
- Go to Injective Bridge and connect your wallet;
- Select “Ethereum” from the dropdown menu as the origin source;
- Select “wUSDL” as the asset to transfer and make sure it has wUSDL balance;
- Enter the amount of wUSDL tokens you would like to transfer and click “Review Deposit” and “Confirm”;
- Once the transfer is completed, you can check the USDT balance in your Injective Wallet or the Balances page on Helix.
Option 3: Onboard with Fiat
- You can also onboard onto Helix using popular fiat currencies by selecting from one of the fiat on-ramp providers such as Mercuryo, Kado, Transak or Payfura.
- Choose your payment currency (e.g. USD) and enter the amount in fiat you would like to swap;
- Select Injective as the network to receive your payment amount;
- Follow the instructions and continue the steps;
- Once the transaction is completed, you will see the USDT or INJ balance on Injective Wallet or Account page under Helix;
- Swap INJ to USDT by using the Swap feature if needed.
Trading wUSDL/USDT on Helix
After you successfully have wUSDL or USDT assets to Injective, you are ready to trade!
- Go to the wUSDL/USDT spot market on Helix;
- Now you can buy wUSDL using USDT, or sell wUSDL to get USDT;
- On Helix, you can choose the type of order, either Market or Limit order;
- Enter the amount you want to Buy or Sell, submit your order and approve it with your wallet;
- Once the order is approved successfully, you will see a notification “Your order has been placed.”
Upcoming Listings
Moving forward, Helix will continue to expand the markets available for users. All community members can propose to bring new assets to Helix using the governance portal on the Injective Hub. Ultimately, all INJ token holders own Injective so the community has the power to bring new assets to the dApp ecosystem.
Stay updated on all new listings by joining Helix on Twitter and Telegram!
Useful Resources
- How to create your Injective wallet: Link
- Onboard onto Injective instantly with fiat: Link
- Transfer assets to Injective via Injective Bridge: Link
- A quick guide on how to make a trade on Helix: Link
- Earn trading fee discounts by staking INJ: Link
This article is for informational purposes only and is not financial advice or an endorsement of a particular project or application. Use of Helix is subject to Helix’s Terms and Conditions.
About Helix
Helix is the premier decentralized crypto exchange. Helix provides access to unlimited crypto assets and perpetual markets with market leading rebates. Best-in-class security, near zero fees, lightning fast speeds, cross-chain capabilities and a fully on-chain orderbook on Helix provide the optimal gateway to bring crypto trading to the masses. Helix is built on Injective, the interoperable layer one blockchain for building powerful exchange, DeFi, derivatives & Web3 applications.
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About Injective
Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native token that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.
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About Paxos
Paxos International is the leading regulated blockchain infrastructure and tokenization platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Today, trillions of dollars are locked in inefficient, outdated financial plumbing that is inaccessible to millions of people. Paxos International is replatforming the financial system to enable assets to instantaneously move anywhere in the world, at any time, in a trustworthy way.Website | Twitter | LinkedIn