It’s literally a coin by pajeets, for pajeets. That being said it’s only 2 million market cap. Same team as MATIC, which for anyone who has been here more than a year that isnt retard...swiftly realizes is a CRUCIAL fact, because Matic pajeets have money and they understand that hiring a pump scam market maker massively helps a project succeed (as of writing this right now, in fact, Matic has a market cap of around 83 million). And before you brainlets scream pnd, even if it is (it isn’t because the product is live and working with an important use case), it hasn’t fucking PUMPED yet: its barely up 30% from the literal bottom last week. None of us shilling are dumping at this shit price, I’m personally waiting for 50 mil market cap.
Now all the price action bullshit aside, let’s take a look at the tech. DFD is the governance token for DUSD defi dollar.
GOAL of DFD/USECASE: A stablecoin backed by other stablecoins, that is robust to a single stablecoin collapsing (eg a tether implosion)
METHOD: You deposit a stablecoin into the DUSD protocol. It in turn deposits it into curve. DUSD holders have the option to stake their coins, and get all the rewards generated by curve yield farming. In the event of a stablecoin breaking its peg, stakers lose everything so that the rewards and staked DUSD can be used to back the DUSD that is NOT staked. In short, it uses curve interest rates to accrue a constant cushion to back DUSD.
Product has been audited by two of the top firms including Peckshield, which audited EOS. All issues were fixed. Full reports : docs.dusd.finance/audits
Roadmap is extremely ambitious but with a working and a legitimate usecase they can shoot high: docs.dusd.finance/roadmap.
Now what is the point of the DFD coin itself, you say? After all it is NOT DUSD. By buying DFD you are buying a governance token. A governance token that will have FEE sharing, and buy backs, using a percentage of the accumulated CURVE rewards (confirmed by team members in telegram). Since degens hold enough of the supply, we will be able to just vote all of this in for ourselves.
I like the retard in the other thread claiming this was people shilling so they could dump at a 2x like it was big money kek
Carter Watson
I bought 35c. Not selling till $2
Landon Foster
And thats only initial
Juan Carter
One of the few legit low caps posted on Zig Forums now that SFI and BOND have turned out to be scam rugpulls
>t.comfy DFD bagholder
Kayden Perez
At what price did you bought?
Zachary Stewart
How much to make it
Wyatt Perez
DefiDollar is an index of stable coins that uses Defi primitives to stay near the dollar mark and subsidize the collateralization ratio.
DUSD (its stablecoin) is collateralized by Curve Finance liquidity provider (LP). It uses chainlink oracles for its stability mechanism. It leverages Curve to handle the logic around integrating with lending protocols and token swaps.
