Token

Cryptocurrency

Ethena

Elixir

Elixir, a modular blockchain project, has launched its latest product, deUSD, a synthetic USD asset designed to rival Ethena Labs' USDe. The new asset aims to challenge existing stablecoin mechanisms by offering a completely decentralized, non-custodial alternative.
The developers claim that USD remains stable through advanced arbitrage mechanisms and a cash and carry trading strategy that generates returns. It uses stETH as collateral when shorting ETH in delta-neutral positions. This approach aims to ensure stability and provide additional returns for deUSD stakers through exchange incentives to provide liquidity.
In contrast, Ethena's USDe, a well-known synthetic dollar, is based on a similar arbitrage and cash-and-carry trading strategy, but is fully collateralized and delta-hedged by cryptocurrencies. USDe's operations include centralized exchanges and custodians, although it is part of the DeFi ecosystem.
Related News: <a href="https://en.bitcoinsistemi.com/only-minutes-to-go-fed-to-announce-interest-rate-decision-here-are-the-latest-information-and-expectations/" target="_blank" rel="noopener noreferrer nofollow">Only Minutes to Go - FED to Announce Interest Rate Decision - Here are the Latest Information and Expectations</a>
According to the developers, Elixir's deUSD stands out with its commitment to decentralization and transparency. Unlike USDe, deUSD is not tied to central organizations. Instead, it leverages open source code and verifiable proof of execution to ensure stability. Elixir also claims that deUSD can maintain its stability even during extremely negative funding scenarios and offers greater flexibility compared to its competitors.
Philip Forte, Founder and CEO of Elixir Labs, stated that the project focuses on transparency and robustness. “The network Elixir has built and stress-tested over the past two years is well-suited to powering a truly decentralized synthetic fixed asset,” Forte said.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/cryptocurrency-project-to-rival-ethena-ena-launches-token/" rel="noopener noreferrer nofollow">Cryptocurrency Project to Rival Ethena (ENA) Launches Token</a>

Cryptocurrency Project to Rival Ethena (ENA) Launches Token

Bitcoin Sistemi EN

Andre artikler publisert på 31. juli 2024

Only Minutes to Go – FED to Announce Interest Rate Decision – Here are the Latest Information and...

Bitcoin Whale Alert: 4,500 BTC Moved from Binance to Trigger a Rally?

Famous Millionaire Said "The USA Will Eventually Buy Bitcoin" and Announced His Portfolio! "I Inv...

Multipool Enters Strategic Partnership with Tokinvest Delivering Next-Level Tokenized Real-World ...

WazirX Hack: Coinbase, Polygon Join India’s BWA Internal Groups For Probe

B2Trader Release: New Version 1.1 of the Platform Featuring BBP Prime, Customisable Templates, an...

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!