# Proof-of-Deposit – initial proposal and request for feedback

**URL:** <https://forum.celo.org/t/proof-of-deposit-initial-proposal-and-request-for-feedback/3041>\
**Category:** Governance\
**Created:** [March 10, 2022, 4:45pm UTC](https://forum.celo.org/t/proof-of-deposit-initial-proposal-and-request-for-feedback/3041 "2022-03-10T16:45:12Z")\
**Posts on this page:** 1\
**Showing post:** 120

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**Author:** ![inlumino](https://avatars.discourse-cdn.com/v4/letter/i/9dc877/32.png) [@inlumino](https://forum.celo.org/u/inlumino)\
**Post date:** [April 26, 2022, 10:20pm UTC](https://forum.celo.org/t/proof-of-deposit-initial-proposal-and-request-for-feedback/3041/120 "2022-04-26T22:20:15Z")

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Near Protocol recently launched $USN with similar idea to provide yield. A separate DAO launched the stablecoin backed by USDT & Near. Minting USN will put Near in their reserve, which in return will be staked for approx 10% apy. The staking reward will be used to provide the yield through different defi platforms.

here is the whitepaper

> **[Decentral\_Bank\_Full\_Whitepaper\_v\_\_1\_0 (1).pdf](https://drive.google.com/file/d/1kYqdv3S-x8IGeyZk7nzmvPOc_lsQ6jGK/view)**
>
> Google Drive file.

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