Matic Network engineers proposed decentralized stabilization currency DefiDollar (DUSD) scheme, or start the flow of mining

BlockBeats on July 19, Arpit Agarwal, an engineer on the Ethernet Workshop Complex Network, introduced a new decentralized stabilization currency DefiDollar (DUSD). It is understood that the DUSD was first established for ETHGlobal Hackathon. Based on this idea, the basic protocol of DUSD has been changed.

The DUSD will be generated by the Scrip mortgage of The Curve Finance liquidity Provider (LP), a Chainlink predictor will be introduced to ensure price stability, and Curve will be used to handle the logic integrated with the loan agreement and scrip exchange, and staking will be introduced to improve the security of maintaining anchoring.

As a stabilisation currency index, DUSD enables stabilisation hedging, a more stable stabilisation currency, by using DeFi elements to anchor us dollars and subsidise collateral rates. The team also plans to introduce liquidity mining and is currently discussing a scrip allocation mechanism, according to reports.

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