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Deployed an instance of DefiDollar(fork) called Swerve-DefiDollar ($swDUSD) on @SwerveFinance.
• No TVL cap
• Built using audited DefiDollar contracts
• Earn trading fees on Swerve
• Earn SWRV - Option to votelock or claim rewards
swerve.dusd.finance
This is a standalone experiment for now & might become a part of the official DefiDollar Protocol in the future.
We will evaluate the stability of $swDUSD before integrating it with DUSD. To reiterate DefiDollar - DUSD remains the primary focus of the team.
Why are we doing it?
👨‍👩‍👧‍👦 Community
Ensuring that the DefiDollar community’s interests are represented in a potential AMM peak that we integrate in the future.
The intent is to participate in governance by having skin in the game from the start. We propose to hold & votelock SWRV initially.
⚙️ Testing
Test the modularity of DefiDollar with an instance of Curve contracts(forked) on mainnet.
Although we have looked over the contracts deployed by Swerve but there might exist some vulnerabilities, thus this system should not be trusted with all your hard earned funds.
🧪Experimentation
In spirit of experimentation in line with Defi’s open source ethos. We do however acknowledge that blind forks do not push the needle of innovation & we are not for them. We respect the hard work put in by the Curve team to build & ship such an amazing product.
❎✅ Choice
We had a choice. To participate or be bystanders.
We chose the former, to play an active part and explore the emerging possibilities, while ensuring this doesn’t affect the core protocol.
☠️ Risks
That being said, pardon my language sers: this shit is risky AF☢️. Again, yes again! We repeat do not put your funds at risk and feel free to sit this one out. Unless you share our enthusiasm for experimentation and are a complete degen. Ref:@DegenSpartan then #YOLO.
As a protocol building the stablecoin of the Future we have to provide optionality for our core protocol users in the future. Nuff said.
We are open to talking to people/teams building AMM’s & would love to get involved in the design to help build a more resilient ecosystem.
Join the swerve banter here: discord.gg/ZsGEE9S
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