GFX Labs announced that it will launch Interest Protocol on Ethereum on June 13th. Interest Protocol is a fractional reserve banking protocol, which issues over-collateralized stablecoin USDi. Users can mint 1 USDi by depositing 1 $USDC into the protocol, or receive 1 $USDC from the protocol by burning 1 USDi that they hold. In addition, users can deposit wETH, wBTC, or $UNI into a multi-collateral vault and borrow USDi against that collateral. USDi holders will automatically earn yield without having to stake.
