|Total Value Locked||24H|
|in ETH||21.2K ETH||+1.6%|
|in BTC||1.4K BTC||+2.1%|
|ibbtc Locked||766.6 ibbtc||-6.6 ibbtc|
|% Supply Locked||< 0.01%|
DefiDollar aims to provide a safe and stable way for users to hold their assets, while enabling diversification using Indices. DUSD is the first index shipped by the team in late August 2020, is a stablecoin optimized for peg safety, yield and diversification.The DefiDollar savings account leverages DUSD to help LP’s earn impermanent loss free returns on their stable assets. Currently built on top of Curve Finance Pools, DefiDollar also leverages Yearn Finance to provide yield to its LP’s.DefiDollar has enabled protocol fee sharing and the revenue generated is used for DFD buybacks and to fund the DUSD Savings account.The DeFiDollar team is working on a range of added utilities for the ecosystem be it synthetics including indices and options products. The next to be released is ibBTC which will be a BTC index and will be launched in collaboration with Badger DAO. DFD is the Governance token of the DefiDollar protocol. It will serve two primary functions: Governance : * Whitelist & remove peaks * Assign peak ceilings similar to the ones in Maker Vaults to balance the index * Fine tune parameters like redemption fee within a peak * Decide on the distribution of the protocol income Protocol Backstop: * DFD will be called in to act as the ultimate backstop against volatility. Similar to the fashion in which MKR acts as the last line of defence for DAI.
Head to the DefiDollar App and navigate to the respective tabs to Mint, Redeem, Save and Stake. There are pools available on the LP Rewards page that can be used to participate the the DUSD ecosystem.