|Total Value Locked||24H|
iosiro - November 2020iosiro - October 2020iosiro - September 2020iosiro - August 2020Sigma Prime - July 2020iosiro - June 2020iosiro - June 2020iosiro - March 2020Sigma Prime - March 2020iosiro - February 2020iosiro - February 2020Sigma Prime - February 2020iosiro - August 2019iosiro - February 2019iosiro - January 2019Sigma Prime - June 2018Cryptecon - June 2018Sigma Prime - June 2018Sigma Prime - April 2018
sUSD is a synthetic USD token created by staking collateral such as Synthetix Network Token (SNX) or ETH in Synthetix, a decentralized synthetic asset issuance protocol built on Ethereum. Synthetix requires all synthetic tokens, or synths for short, be backed at a collateralization ratio (C-Ratio) of 750%. Stakers need to manage their own ratio to be above this figure, which they can do by burning synths to increase their ratio or minting synths to reduce it. If they do this, they can collect weekly rewards from the Synthetix protocol.
sUSD can be minted or burned via Synthetix’s Mintr interface. sUSD can be stored, traded, or using wallets that support ERC-20 tokens. sUSD can be utilized in many DeFi platforms and services such as decentralized lending and exchanges.