Retroactive liquidity mining for DefiDollar LP’s

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The Vision:

DefiDollar ($DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It aims to provide a safe and stable way for users to hold their assets. In the shorter term, $DUSD is a stablecoin optimized for peg safety, yield and diversification. The basket approach diversifies the risk, allows more types of collateral to be onboarded and allows integration with yield generating DeFi primitives. The inbuilt protocol mechanisms along with arbitrage helps keep the peg close to $1.

Due to the rapidly growing demand for stable assets and clearer regulation, we expect to see more innovation in the stablecoin ecosystem. We believe that the bar to issue new stablecoins will keep going lower. This adds to the number of stablecoin alternates leading to user bearing cognitive load to choose the best way to hold their assets. …


Mint $DUSD using yUSD & yCRV in addition to DAI, USDT,USDC and TUSD

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Tldr:

  • Mint DUSD with yUSD, yCRV, DAI, USDT, USDC & TUSD
  • Swap DUSD to USDC to exit the yVault without paying the 0.5% exit fee.
  • Current staking mechanism to be phased out & another introduced in lieu
  • Add DUSD liquidity to Balancer 50:50 DUSD-USDC pool to earn rewards from yVault & $BAL liquidity mining rewards.

We recently published a proposal to integrate the yearn finance’s yVault as a peak in the DefiDollar ecosystem.

The yVault integration will help us inch closer to our goal of providing users access to a diversified stablecoin index that also provides stable returns.

The team has been hard at it to ship the integration and we are happy to announce that it is finally going live. Users will be able to use yUSD and yCRV in addition to the vanilla stablecoins like DAI, USDT, USDC and TUSD to mint DefiDollar ($DUSD). …


Price feeds help to rebalance the asset pool ensuring stability of DUSD

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We are excited to announce that DefiDollar has successfully integrated Chainlink’s widely used Price Reference Data oracle networks live on mainnet to push periodic price updates to our smart contracts. If the prices show that underlying stablecoin assets have slipped from their $1 peg, then the protocol calls into action the staked reserve to guarantee the outstanding DUSD and bring DefiDollar back to the $1 mark again. This brings strong, automated guarantees to the users that $DUSD maintains its peg even during volatile market conditions.

We chose Chainlink’s Price Reference Data over other solutions because it:

  • Provides accurate, fresh price feeds sourced from high-quality off-chain data aggregators that account for volume and volume shifts across the…

About

Siddharth Jain

Building @DefiDollar

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