New youves Tracker Token uDEFI on Granada Testnet
We are proud to announce the launch of the new tracker token uDEFI on the Tezos Granada Testnet.
In the community poll on youves Twitter, you decided that the next asset shall be a tracker on the tokens of five successful DeFi Projects.
DEFI Index
The DEFI index is a price index tracking the performance of the tokens of these five large and successful DeFi projects (in alphabetical order):
The index is capitalization weighted, in line with the market capitalization (“market cap”) as initially observed on Coinmarketcap on 21 September 2021 at 08:00 UTC.
The initial index value on the initial observation time and date is defined to be worth 1 tez. At the time 1 tez was worth USD 5.4620. The index will be rebalanced to the then prevailing market capitalization semi-annually.
youves uDEFI
The uDEFI follows the template of the youves tracker tokens, which was so far used for the uUSD with one difference. The template introduces the option for the minter to decide if its collateral should be open for conversions. The uUSD does not offer the minter this option and all collateral is automatically open for holder conversions. If a minter agrees to the conversion option, it is entitled to receive YOU. If it decides against the option, it will not get any YOUs. It will be interesting to test and discuss this change with you on Granada.
As we mentioned before, the uDEFI tracks the performance of the DEFI index. The introduction of uDEFI also means that youves is multi-asset enabled. Going forward, adding new reference values such as other indices, fx or commodities will be much more straightforward and predominantly a question of getting adequate price feeds. We are looking forward to hearing from you what the next assets should be.
As always, uDEFI and the new features are documented in the youves learn section.
We are excited to see the youves ecosystem grow and will focus as a next step on new product templates.
Get started now on https://granadanet.youves.com/
