Thread by @elixir

Introducing Decentralized US Dollar (deUSD) – the future of DeFi money

Hyper-resilient, fully collateralized, and natively yield generating, deUSD will change the landscape of DeFi liquidity

Now live - powered by the Elixir Network: elixir.xyz/apothecary

Collateralized by stETH and sDAI, the Elixir Network utilizes collateral to capture funding via shorting perps, while mitigating funding risks

deUSD holds long-basis exposure in positive funding environments, while increasing T-Bill exposure in negative funding environments

deUSD's Over-Collateralization Fund (OCF) is the heart of a resilient system

The OCF serves less as a traditional "insurance fund" to protect against sustained negative funding rates: instead, its built to cover execution related costs from moving backing to sDAI

In December, permissionless mints/redemptions will be live, enabling anyone to mint deUSD or redeem for its underlying collateral

deUSD creates a trustless, open source and decentralized future for DeFi money

Elixir currently powers over 40%+ of liquidity across its current orderbook integrations.

deUSD will be the default collateral within the Elixir ecosystem, with 5+ exchanges accepting it as native exchange collateral.

With the launch of deUSD, Elixir is kicking off Apothecary Season 2: a short program awarding potions to deUSD stakers

A snapshot of Season 1 potion holders has been taken. These OGs will receive a scaled up amount of final potions regardless of their participation in Season 2

This brief season serves as a bootstrapping phase for the OCF. At its conclusion, deUSD stakers will begin accruing the token’s native yield

This also marks the final 10 weeks leading into Elixir’s mainnet

elxETH depositors now have the option to commit to minting deUSD with their deposited ETH when permissionless mint/redeem goes live in December, or to withdraw their ETH in August

If a user commits to minting, they will begin earning the top potion boost from deUSD

deUSD has been audited by @Quantstamp. Learn more about deUSD here:



Stake or LP deUSD to begin earning potions:

docs.elixir.xyz/deusd
elixir.xyz/apothecary