DefiDollar

DefiDollar (DUSD)is a multi-chain DeFi protocol lab that aims to create a range of products that allows DeFi to reach the masses. The platform seeks to make DeFi easy and safe, encouraging people to adopt the protocol. The DefiDollar platform is a meta stablecoin index presently backed by the Curve Finance LP tokens. Curve Finance is a decentralized exchange liquidity protocol built on Ethereum and designed for efficient trading of stablecoin.

DUSD is the official native cryptocurrency that utilizes DeFi primitives to stay near the USD mark. The stablecoin's stability mechanism is based on chainlink oracles. The platform enables Curve to manage the logic associated with connecting with loan protocols and token swaps, critical components of DUSD stability. The platform also aims to provide a staking mechanism for further peg protection. Users can utilize DUSD for various purposes:

Along with DUSD, the platform also features the DFD token, the governance token. The DFD token grants the holders the right to take part in the governance of the ecosystem for all products developed by the lab. Users holding DFD tokens can make proposals and stake the v2 staking vault on Ethereum to yield revenue from products of the protocol.

The core team of DefiDollar includes the names Arpit Agarwal, Deep Joshi, Manthankumar Satani, and Siddhartha Jain. As the roadmap suggests, in Q3 2020, the platform started with protocol audits; the DefiDollar app was launched along with the official website and docs of the platform. In Q4 2020, the platform introduced the first liquidity mining pools, and the governance proposal went live. In Q1 and Q2 of 2021, there was talk about index diversification, ibBTC Launch, and deployment of DefiDollar on BSC. BSCis a platform that facilitates fast and decentralized trading.