Elixir launches “fully decentralized” synthetic dollar to challenge USDe

BlockBeats news, July 31, according to TheBlock, the modular DPoS network Elixir launched a "fully decentralized" synthetic dollar deUSD, aiming to challenge Ethena's USDe. deUSD uses stETH as collateral to short Ethereum with a delta neutral position, ensuring stability and providing additional income.

Elixir claims that deUSD has the ability to remain stable during periods of extreme negative funding, has $1 billion in liquidity to support new income tokens, and is expected to launch the mainnet by September.