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[AMA] We are Fluid Finance - A Swiss based financial alternative. On- and off-ramp directly to your web3 wallet, without using an exchange. Ask us anything about our app, savings products, our DEX and our plans for the future!
[AMA] We are Fluid Finance - A Swiss based financial alternative. On- and off-ramp directly to your web3 wallet, without using an exchange. Ask us anything about our app, savings products, our DEX and our plans for the future!
Fluid Finance and their arb fund (FAFS token presale) 40% APY!
Finally able to withdraw all my Funds from Nexo
Finally withdraw all my funds in Nexo and sent to Binance for now
Mentions
Anybody here knows/follows the Project "Defichain" ? It also has an "Stable Coin" called DUSD and its both collapsing a bit like LUNA right now
DUSD of Fluid Finance teaching other stables some dance moves , as it's digital ,fully backed and balanced on the ground.
These people have thought a hard lesson, to always verify . They weren't backed 1:1 with USD. Had to verify that DUSD is backed 1:1 before I used it.
DUSD, the ultimate infinite money scheme
Since stable coins are said to be backed 1:1, they're not, but most aren't backed more reason it's good to verify before use. DUSD digital cash of fluid has earned my attention as it's 100% backed 1:1 with USD.
That's why verification is needed all the time before keeping your money on any stable coin. Now I drop most of my stables as a digital cash, DUSD on Fluid Finance, due to the fact that I can track everything and see that it is 100% backed by fiat.
/u/rey_miller I had a quick discussion with the team this morning about this. We're not sure what the auditor would be able to do - they would have to "trust" that our partner's bank statement that holds the safeguarded account is correct. We don't have liabilities or assets, just cash backing DUSD 1:1. I'll continue to raise this as an issue. But in tradFi, exposing our end point is as close as it can get to transparency.
Hi /u/Antana18! Great to hear you like us, in terms of verifiable backing of DUSD, we have the endpoint opened up of our treasury account. I've had a discussion earlier today re audits, but I'm not sure what they'd be able to audit as they would have to "trust" our partner bank has the money that is on the bank statement (that you can access already here: [https://retail.fluidfi.ch/gw/open/v1/treasury/DUSD](https://retail.fluidfi.ch/gw/open/v1/treasury/DUSD)). Unfortunately in TradFi there is always an element of "trust". Which is really why we need mass adoption of DeFi!
Yes - you'd have to find a way to transfer your bitcoin to ethereum and arbitrum specifically - at the moment that's the only chain we support. Although we are looking to expand to other chains. To spend crypto on your card you'd have to swap to DUSD, redeem that DUSD and then top up your Wild Card in app. We might have a more crypto solution later in the year, but that would only be for EU/UK customers, unfortunately.
Great question! Our DEX is to allow users who on-ramp through us to be able to go into the crypto world with on-chain DUSD. Before users would have to go through a DUSD/eth pool and then go to another DEX. We wanted to make the process much simpler for people to use. Of course, we'd love people and projects to create more DUSD pairs on uniswap, sushiswap etc :)
Hi! The APY is based on our DUSD/DAI stable pool. All of Fluids onchain operations (such as mint, redeem, swap and our arbitrage product) touch the volume of this pool one way or another, so the APY is very good atm. The more users interact with the Fluid ecosystem (currently expanding rapidly, two DAOS -Bakery and Deep- built on top of this pool as well) the higher the APY. Since this pool is highly arbitrageable thanks to the 1:1 redeem possibilty of DUSD to a bank account in case there is any onchain depeg, this adds even more volume to the pool. This rate is not guaranteed nor promissed. It is the average APY the users of our Beta version of the savings product received in the last months, we do expect the volume that comes through this pool to increase even more over time though. On-chain DUSD is not in itself yield bearing - you have to use it in our balancer savings product.
ok, when are you gonna get a third-party audit? tx ID of your bank account is not enough as a proof that you hold enough money to back the exact amount of DUSD.
Sorry /u/Izzeheh and /u/Seisouhen i misread the question and missed the bit about fees. Apologies! we charge 0.5% to mint directly on-chain to your web3 wallet, to redeem we charge 1% to redeem DUSD back to your fluid account or traditional account. From that you can use our fluid swap which we charge 0.5% to swap DUSD for any token on arbitrum. From here the world of crypto and DeFi is your oyster! Hope that helps.
I think regulation will come for stablecoins first. Although we don't freeze user's on-chain DUSD like other stablecoins, ultimately there could never be more DUSD in circulation than US Dollars in existence, so if you think about it the Federal Reserve have ultimate supply control. I think this is exactly what the Federal reserve and other regulators would be happy with, we're positioning ourselves to be ahead of the regulations and the competition.
Hi /u/DadofHome what I am referencing is the TradFi side - so neither the banks, nor we can touch the DUSD treasury. DUSD is always redeemable. If everyone with on-chain DUSD wanted to redeem their DUSD at once to real dollars they would be able to do so. We don't re-invest your funds. We don't touch your funds, it's essentially in a vault, untouchable to us or greedy banks!
Hi /u/bahkins313 our Digital Cash APY is variable, it's generated by users minting and redeeming on-chain DUSD, using our Fluid Swap and other on-chain fees. So all from volume of using our products. We take some of these fees for ourselves and redistribute to Digital Cash holders, as a sort of interest. So it's based on the principles of DeFi - fee sharing, not re-investing like your local bank or taking money from one person to give to the next like a ponzi. The Fluid tiers and benefits is to drive value up for the Fluid token, which is on sushiswap - which we also make small fees on (that... you guessed it! Some goes to us, some goes to our users). Hope that helps!
With Fluid, the user is in control. That is a difference to other companies who try to integrate TradFi and DeFi. It is the user who mints, not us. The user sells USD for the digital representation, DUSD, and then can use it on-chain. Like swapping it for Dai or using it on Bakery Finance. In addition to making the user the mint, USDC has a blacklist function. Basically, this is an on/off switch on your money. DUSD doesn't have this. You can see the Balancer pool here: [https://bit.ly/3hJmfw1](https://bit.ly/3hJmfw1) You can provide liquidity by interacting directly with the smart contract. Or, you can do it via our savings product in our app: [app.fluid.ch](https://app.fluid.ch) The returns come from fees paid on the Balancer pool. You can also use DUSD on Bakery Finance.
Digital Cash accounts in your Fluid account are digital representations of a real dollar in a safeguarded ring-fenced account. You can send this to another Fluid user anywhere in the world instantly, for free. Or you can connect your web3 wallet to our app and mint DUSD on-chain directly to your web3 wallet. When users mint/redeem on-chain DUSD we take a fee, take some for ourselves and distribute the rest to users who have money in their Digital Cash accounts as a kind of interest. So you can keep money there for savings. In short, it's better than a bank account, but you don't get an individual IBAN and don't have access to some of the same TradFi transfer rails as your local bank. Y
Does this in essence make you a bank, that locks the dollars in my bank account untill i've returned the goods? (aka the DUSD)? Almost feels like a Cricle situation where you return USDC to them for dollars. How is it better than other stablecoins have done so in the past (like USDC) And for my own interest, where can I find the liquidity for the balancer product as soon as it launches on chain? Any plans to provide some yourselves and if so which Dexes will have that liquidity bump from Fluid? Thanks.
Hi /u/ChemicalGreek completely with you on being sceptical on "(un)stablecoins". We've exposed the endpoint to our treasury, it's not particularly user friendly, but here's a link to it: [https://retail.fluidfi.ch/gw/open/v1/treasury/DUSD](https://retail.fluidfi.ch/gw/open/v1/treasury/DUSD) If you look at the treasury balance and the supply of DUSD on arbiscan, the two should match. There is unfortunately a slight delay on the treasury balance feed - this is TradFi after all!
Hi /u/Tenzu9 great questions! 1. We're currently on arbitrum, but will be launching on eth mainnet very soon and want to bring DUSD to as many chains as possible 2. EU and UK residents can get a traditional bank account with us. Otherwise you can get a Digital Cash account with us from anywhere on the world 3. We'd love DUSD to be listed as a trading pair on exchanges, however we also think Fluid will replace exchanges as we allow uses to get on-chain directly from their Digital Cash/Bank account to their web3 wallet. Why go through a centralized exchange when you can just own your own tokens and your own keys?
hi /u/moneyevery3days we don't have any plans at the moment, but we're always looking at new chains to have DUSD on in the future - DUSD is quite simple in code so easy to port to other chains. If you join our community, we regularly take direction from our community on what direction we should be going in.
Hi /u/DBRiMatt The APY is based on our DUSD/DAI stable pool. The yield is dependent on the volume and depth of the pool of course. All of Fluids onchain operations (such as mint, redeem, swap and our arbitrage product) touch the volume of this pool one way or another. So the more users interact with the Fluid ecosystem (currently expanding rapidly, two DAOS -Bakery and Deep- built on top of this pool as well) the higher the APY. This rate is not guaranteed nor promissed. It is the average APY the users of our Beta version of the savings product received in the last months. As long as users are using the pool, users will get yield.
>https://retail.fluidfi.ch/gw/open/v1/treasury/DUSD This is a great question. Because Fluid is not just built either in the traditional finance world or the crypto world, we could theoretically do both, without having to choose. Yield on cards is generated through transactions, so yes, we have been discussing a cashback model in the future. (There just are so many things we can build for our users - which is why we involve our community and ask them to vote on future Roadmaps, which then steer our product focuses). The stablecoin APY happens on-chain, but involves no staking. We don’t want our users to lock up their funds. Through our Balancer savings product the users can simply deposit single sided liquidity for either DUSD or DAI and then earn the real yields that our pool generates - but the users can also withdraw their funds, or add more, at any point in time. Fluid is just the facilitator to make it easy for our users to get a piece of the APY the pool generates on Balancer. You can check it out in the app: app.fluid.ch
Hi /u/Fritz1818 we have a treasury end point from our treasury bank account here: https://retail.fluidfi.ch/gw/open/v1/treasury/DUSD It's not particularly user friendly but if you see "balance" and search the DUSD supply on arbiscan, they should match. There's a slight delay on the treasury because, unfortunately the TradFi space is still extremely slow.
>ID's A better name for it is digital cash. We basically put real money on-chain. DUSD is a digital representation of USD in a bank account (or Fluid Account) with us. So, digital USD = DUSD, digital euros = DEUR, digital yuan = DCNY.
I know as a Fluid user since the beginning there's a link to the DUSD treasury with all the movements in and out. But for sure one of the team will post it if i dont find it right now
Most APY on stablecoins comes either from an increasing supply of native tokens or from lending out the stablecoins, which involves credit risk. Fluid doesn't do that. There is no inherent yield on our digital cash (like DUSD, DCNY, etc.) Yield comes from our savings product. This yield comes from fees from our Dai - DUSD pool on Balancer. Basically, it is fees that people pay to go on/off chain. Fluid enables the user to be in control of minting/redeeming, unlike any other option that connects TradFi to crypto.
We expose our treasury endpoint: [https://retail.fluidfi.ch/gw/open/v1/treasury/DUSD](https://retail.fluidfi.ch/gw/open/v1/treasury/DUSD) I dislike the term "stablecoin" because, like you say, it implies that it can be unstable. Real money, on-chain is probably a better way of describing it. We just create a digital representation of money in a bank account (or Fluid Account) with us. We don't invest in assets, like commercial paper, treasuries, etc. It is simple, plain vanilla: just cash in a bank account. We are not smart enough to manage a complex asset/treasury operation. We created the stablecoin because we wanted to put our users in control. Our users can mint/redeem their own money. Users can go directly from a bank account (or Fluid Account) with us to chain. And back. No need to go via a centralized exchange.
It isn't really a stablecoin. We don't take users money and invest it in assets. It is just a digital representation of money in a bank account. Our stablecoin (better: our real money, on-chain) puts the user in control of minting and redeeming. Also, there is no blacklist function. There is no on/off switch on DUSD. In our view, a blacklist function is not compatible with crypto. It may be your keys, but if there is an on/off switch involved, it isn't your coins.
Hi, the APY comes from fees paid in our Dai - DUSD pool on Balancer. You can see it on-chain, under Balancer (on Arbitrum, mainnet to come). Our pool enables users to mint USD directly from a bank account (or Fluid Account) with us, directly to chain. It puts the user in control. For the first time, you are the mint. Not someone at some centralized exchange. We create our digital cash (DUSD, DEUR etc) so our users could go directly from their account to crypto, without having to go through a centralized exchange. We wanted to offer a different approach to moving money from the traditional world on-chain and back again. DUSD is not just "another" stablecoin, but the key part of Fluid ecosysytem, which links together all Fluid products. DUSD itself isn't interest-bearing. If you use our Savings Product (fees from the pool) you get decent returns. Most stablecoins out there are not that great, in our view. There is over $132 billion in stablecoins and most have a blacklist function. We built DUSD with no blacklist function and it enables the user to be in control. The user can go on/off chain on their own. DUSD isn't really a stablecoin. It is more like real money, on-chain. It is just a digital representation of the user's money in their account. (When you mint, the money is blocked, of course, so you cannot double spend it).
Hi, we think that Switzerland is the best place to have a crypto company that is integrated into traditional finance. Switzerland has had clear crypto regulations in place from the regulator, FINMA, since 2018. Unlike some other countries, there are clear guidelines on how to operate. We do KYC for everyone, including anyone from the US and we conform to US standards. Our bank accounts are only open for EEA and UK citizens. We offer Fluid Accounts for anyone, globally. We are planning on launching US bank accounts in Q2 probably. We have already integrated with our US partner to offer FDIC insured bank accounts in all 50 states. One of the best things about Switzerland is that crypto is well accepted here. You can pay taxes in Bitcoin in some cities/cantons and the local Thai restaurant by our office takes payment in a number of cryptocurrencies. The yields come from fees on our Dai - DUSD pool on Balancer, on Arbitrum. These are real fees that involve going on/off chain. Not yield in tokens. I wrote an article about Celsius (the Celsius Deception). I also speak about the risk of entities like Celsius on the documentary on Fluid by Real Vision. Celsius seem to have paid yield based on lending out tokens. We don't do that. Our yields are much healthier, we think: based on real fees that people pay. We also generate substantial yields from capturing currency differences from integrating the traditional and crypto worlds. You can see our fees and yields transparently on-chain. Unlike Celsius. Yes, people are rightly skeptical of crazy high yields, especially if paid in native tokens or derived from risky lending activities. The problem with yields from lending is that you take credit risk against the counter-party. Fluid doesn't take counter-party lending risk.
Hi, the APY comes from fees paid in our pool. Our pool enables users to mint USD directly from a bank account (or Fluid Account) with us, directly to chain. It puts the user in control. For the first time, you are the mint. Not someone at some centralized exchange. We create our digital cash (DUSD, DEUR etc) so our users could go directly from their account to crypto, without having to go through a centralized exchange. We wanted to offer a different approach to moving money from the traditional world on-chain and back again. DUSD is not just "another" stablecoin, but the key part of Fluid ecosysytem, which links together all Fluid products. DUSD itself isn't interest-bearing. If you use our Savings Product (fees from the pool) you get decent returns. Most stablecoins out there are not that great, in our view. There is over $132 billion in stablecoins and most have a blacklist function. We built DUSD with no blacklist function and it enables the user to be in control. The user can go on/off chain on their own. DUSD isn't really a stablecoin. It is more like real money, on-chain. It is just a digital representation of the user's money in their account. (When you mint, the money is blocked, of course, so you cannot double spend it).
Hi - alternatives? We only allow users to on ramp or off ramp using DUSD for now, but we have a DEX (app.fluid.ch/swap) that you can swap any token on arbitrum to DUSD. This routes through our balancer DAI/DUSD pool, which is linked to our saving product - so the more people use our swap function, the higher APY on the savings product :)
Hi, we think that Switzerland is the best place to have a crypto company that is integrated into traditional finance. Switzerland has had clear crypto regulations in place from the regulator, FINMA, since 2018. Unlike some other countries, there are clear guidelines on how to operate. We are in Geneva. Yes, Switzerland is where the Ethereum Foundation is based. One of the best things about Switzerland is that crypto is well accepted here. You can pay taxes in Bitcoin in some cities/cantons and the local Thai restaurant by our office takes payment in a number of cryptocurrencies. The yields come from fees on our Dai - DUSD pool on Balancer, on Arbitrum. These are real fees that involve going on/off chain. Not yield in tokens. I wrote an article about Celsius (the Celsius Deception). I also speak about the risk of entities like Celsius on the documentary on Fluid by Real Vision. Celsius seem to have paid yield based on lending out tokens. We don't do that. Our yields are much healthier, we think: based on real fees that people pay. We also generate substantial yields from capturing currency differences from integrating the traditional and crypto worlds. You can see our fees and yields transparently on-chain. Unlike Celsius. Yes, people are rightly skeptical of crazy high yields, especially if paid in native tokens or derived from risky lending activities. The problem with yields from lending is that you take credit risk against the counter-party. Fluid doesn't take counter-party lending risk.
Hi /u/whatisthereason we have a treasury end point here [https://retail.fluidfi.ch/gw/open/v1/treasury/DUSD](https://retail.fluidfi.ch/gw/open/v1/treasury/DUSD) there is some time delay, (vs on-chain DUSD supply) because of the antiquated banking system, we also have a card payment provider that provides us with top ups from user's cards after 24 hours, so there's some more time delay on that. Hope that answers that question?
Yes, the APY is based on our DUSD/DAI stable pool. All of Fluids onchain operations (such as mint, redeem, swap and our arbitrage product) touch the volume of this pool one way or another, so the APY is very good atm. The more users interact with the Fluid ecosystem (currently expanding rapidly, two DAOS -Bakery and Deep- built on top of this pool as well) the higher the APY. Since this pool is highly arbitrageable thanks to the 1:1 redeem possibilty of DUSD to a bank account in case there is any onchain depeg, thos adds even more volume to the pool. This rate is not guaranteed nor promissed. It is the average APY the users of our Beta version of the savings product received in the last months, we do expect the volume that comes through this pool to increase even more over time though
We created the DUSD stablecoin by mistake. We were looking for a way to give control to our users to "mint" directly from their bank account with us, to chain. It isn't really a stablecoin. It is real money, on-chain. It is just a digital representation of what exists in a bank account. We started with USD, but we have integrated 32 currencies, of which 12 are now in digital form. We intend to bring more digital currencies on-chain in the same manner. Most stablecoins are "backed" by cash + investments or have some algorithmic model (or a combination of both, like Frax). DUSD is different: it is just a digital representation of what is in the user's own bank account (or Fluid Account). We expose our treasury end-point, so anyone can check it. [https://retail.fluidfi.ch/gw/open/v1/treasury/DUSD](https://retail.fluidfi.ch/gw/open/v1/treasury/DUSD) There is sometime some delay, caused to TradFi settlement, but our digital cash is pretty boring, plain vanilla money that is in a bank account. We think that is the best form of currency on-chain. Of course, we integrate TradFi and DeFi, so not all is on-chain. But, that is the point: we want to bring mass adoption to crypto. So, with our DUSD, you can spend it in the real world, like to buy coffee or an apartment in Greece (like one community member did, see on Trustpilot). Some stablecoins invest in many different assets (cash, commercial paper, treasuries, etc) but we don't do this. We just provide a bank statement, basically, as a testimonial of what exists on-chain. We don't invest in different assets, or make loans etc. Just cash and a representation on-chain.
Hi! The APY is based on our DUSD/DAI stable pool. The yield is dependent on the volume and depth of the pool of course. All of Fluids onchain operations (such as mint, redeem, swap and our arbitrage product) touch the volume of this pool one way or another. So the more users interact with the Fluid ecosystem (currently expanding rapidly, two DAOS -Bakery and Deep- built on top of this pool as well) the higher the APY. This rate is not guaranteed nor promissed. It is the average APY the users of our Beta version of the savings product received in the last months.
Hi and welcome to the sub! My question: How can regular users see if DUSD is really backed by a dollar? Is there any transparency? After all the (un)stablecoins that failed these months, I’m a bit sceptic.
Thanks for doing the AMA. Two questions. ​ >We've just launched our first DeFi savings product in collaboration with Balancer, so you can get your DAI or DUSD to earn 6-14% APY. Can you elaborate on the APY? Where does that come from? At first glance that reads as too good to be true. > You can do this by minting our stablecoin DUSD (Digital US Dollar): each digital dollar is backed with a real dollar in a ring fenced treasury account. Security is our priority, and 100% of deposits are insured. There's quite a few Stablecoins out now. Why did you feel another one was necessary relative to all that is already out there?
Do you have verifiable audited proof that each DUSD is 1:1 backed with a USD? If so, does this report come with a proof of reserves/liabilities?
>We've just launched our first DeFi savings product in collaboration with Balancer, so you can get your DAI or DUSD to earn **6-14% APY**. Can you elaborate on the APY? Where does that come from? At first glance that reads as too good to be true.
Hi and welcome to the sub! My question: How can regular users see if DUSD is really backed by a dollar? Is there any transparency? After all the (un)stablecoins that failed these months, I’m a bit sceptic.
>100% of deposits are insured What are the conditions of the insurance? In which cases would it not be fulfilled? ​ >each digital dollar is backed with a real dollar in a ring fenced treasury account Has the company already been audited by an independent party? ​ >We've just launched our first DeFi savings product in collaboration with Balancer, so you can get your DAI or DUSD to earn 6-14% APY What are the liabilities you have with Balancer? How should people expect such a high APY to hold? Thanks in advance!
"Swap any token on arbitrum to DUSD using our Fluid Swap DEX - which is powered by Paraswap" loved paraswap cause the less swap fee percentage/ less slippage. [PROOF](https://i.imgur.com/0MGiee4.png)
oh man DUSD is coming to your houses
DUSD or Digital Yuan or something like that ha
Yes! I know of Fluid cards as well, you can even use these cards to spend your money on real, with their 1:1 pegged DUSD with USD, and other major currencies. I've been enjoying their services.
Bancor, Anchor are some big names. DUSD on Cronos. Just because it won't last forever doesn't mean you can't be an early adopter and take advantage of the opportunities while they last. Sometimes being first pays off the risk.
Imagine they will realse the DUSD, and it will be a token on the Binance Scam Chain.
Yup. We should see “DUSD” or Digital US Dollar soon. Some variation of that at least
Maybe DeFiChain, not staking on the light wallet, but Liquidity Mining, Dfi-DUSD(stablecoins) APR it 130% maybe decreasing to 50-70% in the next year.
Good news there’s some verifiably backed stablecoins being released. VeUsd and DUSD are two that release is imminent
I can afford to buy BTC all the way up and down…….get the strike app. Super cheap and easy. You can purchase as little as $0.50 an hour…..then send it to a CakeDefi account paying 70% interest in DeFichain. I produce enough DeFichain daily that my LTC/DUSD/BTC are paired up with no conversion. I still have all my coin too. Just saying. Have more than one path to money. I mine as well.
The idea is the Digital USD will completely replace the USD. The FED would offer a conversion rate to encourage the transition before they stop printing the USD entirely. With a DUSD the government would then have full transaction history of every us citizen as well as custodial control over every dollar. There are numerous scarey possibilities from this scenario but here are a few. Imagine we go the way of china with a social credit score. If you anger the government in anyway they could instantly freeze your money and prevent you from being able to buy or spend anything. All transactions are fully monitored so no more under the table jobs for anyone. No more small gifts to friends without being taxed. Worst of all your location could be tracked based off of transaction location. The conversion rate from USD to DUSD could be setup to benefit a certain group over others. For example they could institute reparations by giving black people a 1.2x conversion rate. They could also give penalties to wealthy people for example of you make over an arbitrary number say $150k/yr your convertion rate would be 0.80x. These examples are hypothetical but you can get an idea of the dangers stemming from a DUSD. Some of these are already possible but would become much more easy to implament with a DUSD.
I always said WW3 would be online... Nothing like a hack from outside the country to take down $DUSD's Blockchain (pronounced "dusty") (Digital United States Dollar). McDonald's Crew Member: You want this Big Mac? Gimme them Dusties! Me in 2024: ok.
The FED has been pushing the idea of a Digital USD for some time based on BTC. The FED would not support BTC since they would not be in control themselves. With a DUSD all transactions for EVERYTHING would be instantly recorded by the government for tax related purposes.
CBDCs are an interesting topic. In my personal opinion, they are unnecessary as they further centralize the fiat monetary system. There is also the hazard of unscrupulous governments using it as a way to further monitor their citizens, and even potentially to force spending on things they want. Here is an example: let’s say the US already had a CDBC prior to the Covid pandemic. They decide they are going to give everyone $1,200 in what we will call the DUSD (Digital US Dollar = 1 USD). They also decide this money can only be spent at grocery stores or pharmacies that are properly register with the government. They also add a stipulation that the funds must be spent in 6 months otherwise they disappear. These would all be things relatively easy to implement in a CBDC and present a formative moral hazard. If you have arguments **for** CBDC I would love to hear it. They have been a hot topic in my industry.
It's called the fedcoin, DUSD among a few other things. The fed is going set to be realising a new crypto last half of 2021.
Does it really make much of a difference - stablecoin values should theoretically remain the same, it's just that they'd be burnt over time and replaced by DUSD? Considering the stablecoins are already pegged to the USD, what is the negative?
Or DUSD, Digital Useless Shite Dollar or something.
US users really do need to care about the actually using crypto part more. with what is coming our way with hyper inflation and haircuts on our bank accounts. and don't forget the DUSD scam about to kick off.
Defi Dollar is the best at tracking the dollar in terms of accuracy (DUSD), shame it isn't available as a trading pair in lots of places. Their Dao coin Defi Dollar Dao is a great moonshot imo ($DFD).
The only stablecoin that actually accurately tracks the dollar is DUSD. Quite weird that no other stable coins can do it!
DefiDollarDao is one such coin ($DFD). Really interesting thread explaining the coin, the partnerships and the team here. The groups aren't full of fake accounts and it isn't primed as a pump and dump. Looking for long-term sustainable growth and it genuinly fills a gap in the market through DUSD - check how it is constantly tethered to $1 compared with other so-called stablecoins. [$DFD Twitter Thread](https://twitter.com/0xRafi/status/1361737171179360256)