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boardroom-inc-protocol-Info/protocols/defidollar/resources/Documentation/1. Getting Started.md

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🐇 Getting Started

Welcome to the DefiDollar docs. Join us on a journey to build a resilient stablecoin index backed asset. We aim to provide a high-level understanding of the DUSD ecosystem through these docs.

These docs are a work in progress. A few particulars may be pending updates. Please reach out to the team on Discord for clarifications.

What is DefiDollar ($DUSD)?

DefiDollar (DUSD) is a stablecoin that uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying your stablecoin holdings to hedge against an event where the underlying stablecoins e.g Tether (USDT), DAI deviate from their peg.‌ DUSD is collateralised by Curve Finance LP tokens. For more details, please refer to our introduction blog here.

Why use DUSD?

  1. Risk diversification: Diversify your stablecoin portfolio by owning a meta asset, backed by multiple stablecoins.

  2. Volatility cushion: DUSD comes with a native staking mechanism that cushions the day-to-day stablecoin deviations from their peg.

  3. Modularity: DUSD is built with modularity in mind. It is super easy to integrate with DUSD smart contracts and hence help in driving wider adoption of the DefiDollar protocol.

  4. Yield farming: Earn yield rewards by staking and adding DUSD liquidity to various DEXs and DeFi Protocols. The specifics of the reward distribution will be announced soon.

Who do we expect to be the primary users of DUSD?

  • Crypto investors: People & funds who want to diversify and de-risk their stablecoin holdings in the simplest possible manner.

  • Businesses: Institutions who want to keep a much more stable crypto dollar in their wallets.

  • Arbitrageurs: Seek to maximize returns based on the surfacing market inefficiencies, and hence help in keeping DUSD closer to its peg.

  • DeFi enthusiasts and yield farmers: DeFi natives who like to play around with new protocols and/or fellow farmers who want rewards for a good harvest.

  • Developers: DeFi devs and protocols who would like to integrate with DUSD.

Get In Touch

Feel free to reach out to us on Discord for questions, discussions, feature requests or just banter on the future of stablecoins. Follow us on twitter for updates.