Hey guys, the recent red days in crypto, and it’s been wild ride so far this year. i tried to keep up with defi as MakerDAO were rebranding and launching USDS to blend traditional finance with DeFi, and Ethena’s USDe picking up steam.
Amidst all this, I stumbled upon Elixir deUSD while scrolling through Twitter. It’s a synthetic dollar that’s fully collateralized and yield-bearing, built on the Elixir Network, and it’s got me wondering: can deUSD actually power DeFi at an institutional scale?
i dug a bit more and unlike USDC or USDT, which stick to fiat reserves, deUSD mixes treasuries via MakerDAO’s USDS and stETH while hooked up with over 30 DEXs, letting users move liquidity around and even score some extra APY supplying to orderbooks.
As a crypto enthusiast who’s always chasing the next gem between Discord chats and late-night chart checks, I’m keeping deUSD on my radar as the listing of their native token deUSD was just listed on multiple Tier 1 CEXs like Bitget and others.
What do you guys think?