Falcon Finance Deploys $2.1 Billion Multi-Asset Synthetic Dollar USDf on Coinbase-Backed Base Network
Falcon Finance has deployed USDf, a $2.1 billion multi-asset synthetic dollar, on the Coinbase-backed Base Layer 2 network. USDf is backed by a diversified collateral mix that includes Bitcoin, Ethereum, Solana, tokenized U.S. Treasuries, sovereign bonds, equities, and gold, with on-chain reserves exceeding $2.3 billion. The reserve now also includes tokenized Mexican sovereign bills (CETES), adding emerging-market sovereign yield to the collateral pool.
USDf on Base can be bridged from Ethereum to Base, with staking available for yield and liquidity provisioning on platforms such as Aerodrome. Since its launch, sUSDf has distributed over $19.1 million in cumulative yield, including nearly $1 million in the past 30 days, generated through funding rate arbitrage, cross-exchange arbitrage, options strategies, and staking.
Base's Fusaka hard fork has expanded Layer 2 capacity roughly eightfold, resulting in monthly transactions on Base surpassing 452 million, along with lower fees and expanded gas limits. This development positions Base as a core settlement layer for both decentralized finance (DeFi) and traditional finance rails, now enhanced by the addition of a multi-asset-backed synthetic dollar to its liquidity toolkit.
