According to ChainCatcher, Paxos has launched a yield-bearing stablecoin, Wrapped Lift Dollar (wUSDL), in the Injective ecosystem. Users can use this new stablecoin in Injective's DeFi protocol suite and earn income by holding the asset.

wUSDL is a wrapped version of USDL on Ethereum, which is pegged to the US dollar at a 1:1 ratio.