On July 17th news, Defi Protocol Hermetica launched USDH, a BTC-backed stablecoin. Hermetica claims that USDH can always be exchanged for $1 worth of BTC, providing users with a non-custodial option. The release aims to eliminate the need for Bitcoin users to rely on centralized exchanges or fiat-backed stablecoins on alternative chains. The company also announced plans to extend its Bitcoin native defi operations with L2 solutions such as Stacks.