Elixir Network Launches Decentralized Synthetic deUSD Stablecoin 🚀

The Elixir network has launched deUSD stablecoin, a decentralized asset that aims to change the DeFi ecosystem. The team asserted a $1 billion liquidity for the new asset outlining its ecosystem and operations. Crypto users look forward to yield-earning projects while providing liquidity.

Elixir Announces deUSD

Elixir Network has rolled out is deUSD stablecoin, a decentralized synthetic asset. According to the release deUSD will be minted by stETH and sDAI with collateral deposited used to short ETH. This creates a neural delta position with collateral funding through short perps while reducing risks.

The funding rate basis trades on Ethereum is positive and in case of negative funding, it can be resilient. This integration into the ecosystem acts as the preferred liquidity collateral across centralized and decentralized exchanges.

“Most of Elixir’s DEX integrations will accept deUSD as collateral on their exchanges, driving additional Open Interest and TVL. deUSD can also be pointed to native exchange integrations powered by Elixir for boosted yield, further driving liquidity on partnered exchanges,” the statement reads.

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