GM, as we prepare for mainnet launch, we would like to introduce DAM’s first liquidity dapp: d2o.
d2o is an omnichain stablecoin with a soft-peg to the United States Dollar.
d2o is initially backed 1:1 with existing stablecoins, starting with native USDC on Ethereum.
d2o has two unique attributes:
- Anyone holding d2o can claim the underlying collateral (e.g. USDC) by burning d2o on Ethereum. This is critical for maintaining the d2o peg as if the price deviates from $1, there is an easy arbitrage opportunity possible by minting or burning d2o.
- d2o can be teleported as a native asset to other sovereign blockchains through the decentralized dReservoir protocol, starting with Moonbeam. Increasing native liquidity is critical for ecosystem growth! We detailed our approach to the dReservoir here: https://medium.com/dam-d2o/liquidity-pipes-dam-finance-goes-multi-chain-78c55a01fafa
With these attributes, networks connected to DAM have an immediate solution for scaling native liquidity without the tradeoffs of traditional bridging technology.
Separately, we have completed and published our smart contract audits with Halborn. Full reports available here:
