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.
“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”
The funding rate basis trades on Ethereum is positive and in case of negative funding, it can be resi
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