Reddit Posts
Horizen Labs and Stably Launching ZUSD Stablecoin on the Horizen EON Network
Sovryn decentralized exchange DEX and Decentralized application dApp
Mentions
They' are not issuing the loan. You're loaning against yourself. Every 1 ZUSD is always redeemable for 1 USD. Anyone can arbitrage it to maintain peg. If Bitcoin drops and takes the line of credit to 110% collateral ratio, liquidation begins to pay off the loan with the underlying collateral. If it's a flash crash, the stability pool kicks in, where dollars from depositers in it are used to pay off the loans in exchange for the BTC that is now crashing. In such a case, stability pool depositers are incentivised by the fact that they could buy BTC at a massive discount. [More about the Stability Pool here](https://sovryn.com/stability-pool)
'They' are not issuing the loan. You're loaning against yourself. Every 1 ZUSD is always redeemable for 1 USD. Anyone can arbitrage it to maintain peg. If Bitcoin drops and takes the line of credit to 110% collateral ratio, liquidation begins to pay off the loan with the underlying collateral. If it's a flash crash, the stability pool kicks in, where dollars from depositers in it are used to pay off the loans in exchange for the BTC that is now crashing. In such a case, stability pool depositers are incentivised by the fact that they could buy BTC at a massive discount. [More about the Stability Pool here](https://sovryn.com/stability-pool)
The Peg Mechanism. Too many borrowers converting ZUSD into available fiat stables (USDC/USDT), or straight up buying more BTC, becomes an issue when available supply of the latter on the protocol is not enough to support volume of conversions. More ZUSD chasing fewer supplied assets causes it to depeg. Instant arbitration by other market players to restore peg via the redemption mechanism (you get more BTC for each ZUSD redeemed), impacts the low collateralized loans. - The 1:1 dollar Peg is maintained. - Low collateralized individuals lose their BTC to redemptions. Not technically a loss since they still have the ZUSD they borrowed, but they would have to buy back to get BTC. If they had already used the ZUSD, they'd have to look at other avenues for funds to rebuy their BTC.
You take out a 1M ZUSD loan Immediate step: Convert into DLLR, the main stablecoin used for DeFi applications across Sovryn ecosystem With this, you currently can: 1. Convert into USDT or USDC through Babelfish aggegator, then transfer and cash out through the many options that exist throughout the cryptoworld, eg through Coinbase. Fund your lifestyle pay bills, etc. 2. Lend to earn interest on [Sovryn](https://sovryn.app/earn/lend) (interest paid out stablecoin) 3. Trade for more assets - like buying BTC or the protocol's governance token, SOV. 4. Provide liquidity for trading pools When do you pay back? Whenever you want. Or never. You're lending against yourself. No one is coming to ask you questions. But remember to watch your collateral ratio. If it fall before 110%, automatic liquidation begins. Add/remove collateral as needed. No other charge throughout the life of the loan. 8% Origination fee: Charged immediately the loan is issued, and distributed to stakers in the protocol as per their voting weight. (SOV stakers controlling the Bitocracy) As always, Disclaimer: Not Financial advice. You still need to DYOR.
Normal loan. Like taking a mortgage against your home or stocks to fund your activities, instead of selling the assets. Now if one chooses to use the borrowed funds to trade, that's extra risk on them. Zero protocol just gives you the ZUSD, and and requires you to maintain a collateral ratio of above 110%. What you do with the ZUSD is up to you. However, the system used by the protocol to maintain the 1ZUSD:1USD peg redeems the lowest collateralized loans - meaning the riskiest borrowers can lose their BTC if massive redemptions occur. The protocol guarantees that anyone can ALWAYS redeem 1 ZUSD for 1 USD worth of Bitcoin at any time. Other market structures are in place to help reduce the chances of this, like [balancing curves with the Babelfish Aggregator](https://babelfish-money.medium.com/babelfish-reaches-milestone-with-innovative-balancing-curves-7dd1fa59186b) to incentivize Zero borrowers to use this to convert their ZUSD to fiat stablecoins (like USDT), instead of direct swaps at market. That's a whole other topic. So the risks with Sovryn's Zero-interest Bitcoin loans can be said to be threefold: - How you manage your debt. Bitcoin can only be unlocked by repaying the loan. If you use the debt to gamble, good luck. - Bitcoin price fluctuations, as they affect the collateral ratio. Needs to always be above 110%, otherwise automatic liquidation occurs. - Redemption risk. This is a feature needed to maintain the 1:1 dollar peg. Max out your loan, and you stand a higher chance of being redeemed against. Keep your collateral ratio high, risk reduces.
Some big news for Horizen ZEN over the past weeks with the launch of their EVM Horizen EON: SpookySwap: From Fantom to their first DEX Multichain deployment onto Horizen. GranaryFinance: launched their first “Silo” called Yuzu Market choosing Horizen EON over other platforms. Kuswap: launched NFT marketplace on Horizen - https://eon.kuswap.io DefiLlama: TVL from $0 to $3.27m in December - https://defillama.com/chain/Horizen%20EON Ascent Exchange: Moved from Polygon to Horizen - https://docs.ascent.exchange/why-horizen-eon Interport: now integrated with Horizen. ZUSD - stable coin launched. NFTs - the first ever NFT collection launched Zen Space Agency: https://www.zensa.io More details on current and upcoming integrations here: https://eon.horizen.io/ecosystem ——— On top of the above, Horizen Labs are currently working on ApeChain with a new proposal with Arbitrum: https://news.bitcoin.com/horizen-labs-offchain-labs-and-the-arbitrum-foundation-propose-apechain-powered-by-arbitrum/
It was, but due to ZUSD imbalance, it’s effectively on hold until ZUSD demand can satisfy Zero demand. There is a SIP proposal to reduce the origination fee from 99% to 13%, but I don’t see that passing consensus. I hope it’s back online before the end of 2025, or an alternative custodial solution comes to market, got property to buy.
True, it’s a new project and seems to have good bones and adoption is growing quickly. You can buy ZEPH on MEXC, TO, Xeggex and sevenseas and then swap it for ZUSD right in the wallet. Not super straightforward but it works well.
Zephyr stablecoin: ZUSD. It's private.
Horizen ZEN making ground today up almost 15% in 24 hrs. New EVM live, big integrations gone live in the last week with Stably and a native stable coin ZUSD, SpookySwap, defillama, LayerZero, and loads more. Will we start seeing more discussion on Reddit about the project?
And now finally in the last couple of weeks - new chain called EON, new stable coin ZUSD with Stably, SpookySwap moved to Horizen EON, Horizen DAO established, LayerZero integration. Daily announcements at the moment!
Horizen/ZEN trading volume has just increased massively, people noticing the new sidechain launch and today’s ZUSD native stable coin announcement in the news? 👀
tldr; Horizen Labs and Stably have collaborated to launch ZUSD, the first natively-issued US Dollar stablecoin on the Horizen EON network. ZUSD is a fully-backed stablecoin, with collateral held in liquid USD-denominated assets. It can be minted or redeemed at a 1-to-1 rate with USD or USDC. The launch of ZUSD on the Horizen EON network enhances the user experience and promotes a more robust and compliant digital asset space. The Horizen EON network is a preferred platform for innovative projects, offering compatibility with the Ethereum Virtual Machine and scalability. Users can now mint or redeem ZUSD through various payment methods, including major stablecoins, making digital asset transactions more accessible. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
There were 25 tokens; However, after yesterday’s overhaul, the roster has been notably truncated, (with only 8 tokens). Bitcoin (BTC) and Ethereum (ETH) are the only non-pegged coins, featured in the 8 tokens, alongside Gemini Dollar (GUSD), GMO JPY (GYEN), GMO USD (ZUSD), Pax Gold (PAXG), Pax Dollar (USDP), and PayPal Dollar (PYUSD). Source: https://bitcoinist.com/xrp-dogecoin-ltc-removed-new-york-crypto-greenlist/
From website: *Use your bitcoin as collateral, get your loan in ZUSD (a USD-pegged stablecoin).* So you give them Bitcoin (your keys) and they "loan" you ZUSD, which you don't even have to pay back! Interesting way to stack shitcoin!
Seconding Zero. Though, assuming you can bear to, I'd recommend holding off until the interim origination fee reverts to its planned long-term rate of \~2% or lower. Also, bridging of stablecoins off-chain can be touch-and-go as a result of ongoing liquidity shortages; be forewarned that you may conceivably wind up having to convert your newly-minted ZUSD/DLLR back into rBTC prior to off-boarding. Nevertheless, I wouldn't trust anything else.
Website says they pay you the amount of your loan in some ZUSD cryptocurrency so you can buy more bitcoin with it. Any idea what the cost is to turn ZUSD into dollars, if that's even possible?
You are borrowing against the value of your bitcoin. So basically you are using bitcoin as collateral to mint the statblecoin ZUSD. Currently you can 1) Hold ZUSD, 2) Put ZUSD in the stability pool to earn potential RBTC liquidiations 3) Covert to XUSD where you can LP on Sovryn, Trade, Lend. 4) Covert to XUSD and bridge out to USDT, USDC, BUSD or DAI. Also, third party off-ramp services may accept ZUSD in the future or a prepaid debit card.
where does the ZUSD come from?? Where is it redeemed for USD other currencies?
You still have the bitcoin backed dollars, but you wont have access to your bitcoin. You get access to your bitcoin once you paid off the line of credit. The smart contract is unique to your private key. The loan has no carrying costs; it is simply recorded in the blockchain, awaiting the execution of a smart contract to unlock the assets. The risk of the loan is borne entirely by the borrower—since the borrower's assets are locked. The only caveat is you must keep your collateral ratio of your line of credit above 110% to avoid liquidation. Most users have collateral ratio of 250% to reduce their liquidation risk. That means for every $1 ZUSD minted its backed by $2.50 worth of BTC. https://wiki.sovryn.app/en/sovryn-dapp/subprotocols/zero-zusd
Hey, I've just seen the notification pop up. Let me see if I can help answer some of your questions as I've had an open line of credit for a while now. >**I deposit 3 ZBTC.** Wrong. You would peg-in 3 BTC, 3 rBTC (*the native token of the RSK sidechain*) would then be available for you to use how you wish on the RSK sidechain. >**Then I borrow 30K ZUSD and use it to buy 1 BTC** You would first deposit your rBTC into the Zero protocol, then, you could choose how much zUSD you would like to borrow against it. >**If the collateral ratio drops below 150% then I get liquidated.** Yes, **only if Recovery Mode is activated**. Recovery Mode is a system designed to incentivise healthy collateral ratios for the lines of credit of all borrowers. Recovery Mode is activated if the total collateral ratio for all lines of credit goes below 150%. As I type this, there are 107 open lines of credit (*loans*), which are collateralised by 95.2 rBTC. The current total collateral ratio (TCR) is 245.4.%, therefore the TCR would need to fall by 95.4% for your loan to be at risk if your line of credit had a collateral ratio below 150%. >**If I get liquidated then I lose the 3 ZBTC that I deposited, but I no longer have to pay back the 30K ZUSD that I borrowed.** rBTC, not zBTC. If your line of credit was liquidated, you would keep the ZUSD you had borrowed, **but you would lose the rBTC collateral for the loan**. Under normal conditions, (*i.e. not recovery mode*) you will be liquidated at 110%. Therefore, you would lose roughly 10% of your value. The formula for calculating your liquidation price at 110% in fiat is: net debt \* 1.1 / collateral = **liquidation price**. 30,000 (*zUSD*) \* 1.1 / 3 (*rBTC*) = **$11,000 USD** *Alternatively, use '\* 1.5' if you want to know your liquidation price at 150%* **Profit** >\- Profit. Suppose instead that the price of bitcoin never drops below $15K, and that I don't get liquidated. Suppose that the price of bitcoin eventually rises to $100K. The 1 BTC that I bought with my 30,000 ZUSD, I sell 0.3 BTC to pay back the ZUSD. I recover my collateral and the value of my stack has now increased from 3 BTC to 3.7 BTC. Correct, the only costs you would incur using the Zero protocol would be the borrowing fee for the loan; currently, the fee is 0.5%. >**Did I get that right?** Logically speaking it seems like you get the rough idea; however, like anything [DYOR](https://wiki.sovryn.app/en/sovryn-dapp/subprotocols/zero-zusd) and make sure you understand the risks. I think I mentioned in my post you were referring to that I'm only risking 3% of my BTC stack in Zero. If I never see those sats again on the Bitcoin chain, it would suck, but I wouldn't lose sleep over it.
Every once in a while I take a peek at defi to see if there is anything there that interests me. Last time I checked, the liquidity was very low. Then in [this post](https://old.reddit.com/r/Bitcoin/comments/w5vgee/daily_discussion_july_23_2022/ihbhs5d/) u/bullett007 mentioned the [zero protocol](https://wiki.sovryn.app/en/sovryn-dapp/subprotocols/zero-zusd) and that is the most interesting thing that I have seen so far. Let me see if I get it. Suppose that the current price of bitcoin is $30K. I deposit 3 ZBTC. Then I borrow 30K ZUSD and use it to buy 1 BTC. Ignoring transaction costs and taxes: \- Liquidation. If the collateral ratio drops below 150% then I get liquidated and in my case that would happen if the price drops to $15K: 3 * 15,000 / 30,000 = 150%. If I get liquidated then I lose the 3 ZBTC that I deposited, but I no longer have to pay back the 30K ZUSD that I borrowed. \- Profit. Suppose instead that the price of bitcoin never drops below $15K, and that I don't get liquidated. Suppose that the price of bitcoin eventually rises to $100K. The 1 BTC that I bought with my 30,000 ZUSD, I sell 0.3 BTC to pay back the ZUSD. I recover my collateral and the value of my stack has now increased from 3 BTC to 3.7 BTC. Did I get that right? I am still very firmly in the NYKNYB camp and I still don't think that I'm ready for something like this. I would not want to take the risk of getting liquidated, and I see other risks as well, for example that the entirety of Sovryn collapses e.g. because of a government crackdown, fraud, etc. Still this is by far the most interesting opportunity that I have seen for borrowing against my bitcoin. I especially like the idea that it is KYC, trustless, and automated.
Every once in a while I take a peek at defi to see if there is anything there that interests me. Last time I checked, the liquidity was very low. Then, in [this post](https://old.reddit.com/r/Bitcoin/comments/w5vgee/daily_discussion_july_23_2022/ihbhs5d/), u/bullett007 mentioned the [zero protocol](https://wiki.sovryn.app/en/sovryn-dapp/subprotocols/zero-zusd) and that is the most interesting thing that I have seen so far. Let me see if I get it. Suppose that the current price of bitcoin is $30K. I deposit 3 ZBTC. Then I borrow 10K ZUSD and use it to buy 1 BTC. Ignoring transaction costs and taxes: \- Liquidation. If the collateral ratio drops below 150% then I get liquidated and in my case that would happen if the price drops to $15K: 3 * 15,000 / 30,000 = 150%. If I get liquidated then I lose the 3 ZBTC that I deposited, but I no longer have to pay back the 10K ZUSD that I borrowed. \- Profit. Suppose instead that the price of bitcoin never drops below $15K, and that I don't get liquidated. Suppose that the price of bitcoin eventually rises to $100K. The 1 BTC that I bought with my 10,000 ZUSD, I sell 0.1 BTC to pay back the ZUSD. I recover my collateral and the value of my stack has now increased from 3 BTC to 3.9 BTC. Did I get that right? I am still very firmly in the NYKNYB camp and I still don't think that I'm ready for something like this. I would not want to take the risk of getting liquidated, and I see other risks as well, for example that the entirety of Sovryn collapses e.g. because of a government crackdown, fraud, etc. Still this is by far the most interesting opportunity that I have seen for borrowing against my bitcoin. I especially like the idea that it is KYC, trustless, and automated.
I'm yet to watch the video. Thanks for your answer; it’s only my opinion, but a HODLer shouldn't require faith; it's all math and code. There are stablescoins today backed by Bitcoin, like DoC or ZUSD; however, citizens switching to the next easiest to use, most familiar stable currency makes sense until even that currency collapses.
> So shitcoin by definition. And off topic by definition. ZUSD is a bitcoin-backed stablecoin. Relevant for the r/bitcoin sub imo. Also, posts about Tether, which is backed by fiat and as very little whatsoever to do with bitcoin, seem to be quite popular and frequent here, where are you complaints about those? https://www.reddit.com/r/Bitcoin/search/?q=tether&restrict_sr=1&sr_nsfw= > And stop shilling this bullshit here, or begone. You had your final warning. I don't have to listen to some petty tyrant wannabe. "Your final warning" lol. LMAO.
I recommend looking into how RBTC and the Zero/ZUSD protocol works in detail. It's not as tenuous a proposition as you make it out to be. RBTC is programmatically backed by BTC using a mechanism called a [Powpeg](https://developers.rsk.co/rsk/architecture/powpeg/). And 1 ZUSD has a price floor of ~1 USD because 1 ZUSD can always be redeemed with the Zero protocol for 1 USD worth of RBTC. If a borrower wants to reduce their chance of liquidation they can set a relatively high collateral ratio, and top up if it drops below their comfort zone. Zero docs: https://wiki.sovryn.app/en/sovryn-dapp/subprotocols/zero-zusd
Okay, Dollar on Chain is a stable coin, pretty you must over collateralize your loan in order to get the stable coin, or I think you must sell your Bitcoin or something like that. The Sovryn team is working on a stable coin too that will start with Z. ZUSD or something like that, you will borrow with your Bitcoin and if the value of Bitcoin goes down you will have to return the ZUSD otherwise your loan gets liquidated, and you lose your Bitcoin. Zero stable coins and the Zero loan interest loans will work differently, but we will have to wait until Sovryn DEX releases it to know exactly how it will work.
Sure, but a lot of those are bullshit. How many have kept their peg within 1% of the asset to which they’re pegged for the last 30 days? Go to coingecko and sort by usd pegged stablecoins. A bunch are off their peg. VAI is 92 cents WUSD is 95 cents ZUSD is 73 cents QUSD is 64 cents People should DYOR on such things, but a few rules wouldn’t be a bad thing. If they wanted to, these other issuers could jump in and voluntarily provide their info to the US senate, as if they got a letter.
Celsius has 10% on USDC, GUSD, TUSD, BUSD, USDT, and ZUSD with no lockup period, no minimum, and free withdrawals. Been working nice for me so far, I buy GUSD on Gemini and withdraw out to Celsius because it's free unlimited GUSD withdrawals. Sometimes I go Gemini to BlockFi to wash GUSD to USDC, then go to Celsius once a month with BlockFi's free withdrawal. Crypto.com's rates are super nice but you need a lot more money up front compared to others.
It is not in the New York approved coin lists like DAI, USDC, BUSD, GSUD and ZUSD are : https://www.dfs.ny.gov/apps_and_licensing/virtual_currency_businesses/approved_entities_number https://www.dfs.ny.gov/apps_and_licensing/virtual_currency_businesses/Greenlist
tldr; INX Limited (INX), the owner of a regulated cryptocurrency exchange and a digital security trading platform, has partnered with GMO-Z.com Trust Company, Inc. (GMO Trust), to list the world's first regulated Japanese yen stablecoin, GYEN, for retail and institutional investors through its subsidiary, INX Digital. INXD will also be listing GMO Trust's USD-backed stablecoin ZUSD. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
That's correct. Noticed that lots of DeFi now has something to do with gaming. And that's kinda cool. Even ALBT plans to integrate ZUSD as a gaming token as well as stable coin
I advise to look at such coin as XDB they are creating branded stablecoins on their blockchain, they already created ZUSD for eSport They also launched an NFT with Floyd Mayweather, other NFTs are coming up The project is really promising and I personally took the coin for the long term
Blockchain is growing rapidly and will continue to do so Famous brands also want to enter the field of cryptocurrencies and use XDB to create branded stabelcoins, for example eSport already released ZUSD with them Brands like Starbucks or Walmart will need tokenized reward points and DigitalBits can create them in forms of stablecoins Blockchain = future
I already use ZUSD for purchases in eSport , these tokens by the way released XDB they are engaged in branding of stabelcoins This makes it much easier to buy + allows you to trade with other players Transaction percentages and speed are much higher in my opinion I hope in the future for example Starbucks will do the same (maybe they will credit coins for holding) for which it will also be possible to pay The world of cryptocurrencies will continue to evolve
If we take exchanges as an example, we already fuse commissions in cryptocurrency, and there are other cryptocurrency payment options in the works El Salvador has adopted Bitcoin and is the first country that will officially accept cryptocurrency in payment XDB is another example, they are branding stablecoins for well-known brands and have already partnered with ESPORT to make ZUSD with which you can make in-game purchases I think it may be psychologically hard for many people to accept it (to turn down the money) but it just keeps on growing
This might be big news for $XDB and $ZUSD alike! Through their partnership with i2c (the company that landed [crypto.com](https://crypto.com) their Visa partnership) and Visa's recent moves towards embracing the crypto market (apart from this they recently announced USDC integration), we may very well soon be seeing at least one of the 2 aforementioned coins linked to a card.
Check out $XDB and their branded stablecoin $ZUSD, which will be used for in-game purchases and gaming/esports payouts in the future!
Not sure it fits under the category of crypto-gaming but hear me out. My favourite project that ties the crypto and gaming spaces together is XDB. They offer branded stablecoins and have recently been moving into the esports and gaming scenes through their stablecoin $ZUSD, which is sponsored by esports team Dignitas. Through the use of this coin (and others to come), they perfectly cater to Millennials and Gen Z gamers who will be able to complete in-game purchases and get rewards under the form of $ZUSD, without having to go through heavy inflation or any such uncertainty that the traditional payments would cause them. You can read more about it here: [https://thefintechtimes.com/fintech-is-reshaping-the-future-of-payments-in-gaming-and-esports-says-zystara-ceo/](https://thefintechtimes.com/fintech-is-reshaping-the-future-of-payments-in-gaming-and-esports-says-zystara-ceo/) P.S. Hope my comment fits well under this post!
if you're interested in stablecoins, get into XDB while you still can! They're creating branded stablecoins for B2B sollutions, allowing companies to reward their loyal customers accordingly. They already have 2 out; $ZUSD which is sponsored by esports team Digintas is mainly used for the gaming industry whilst their latest addition $USDS, launched with Stably is the first to run on the XDB blockchain.
For me this has to be XDB. Even though it isn't a crypto gaming project directly, they do have ties to eSports through their partnership with eSports team Digintas, who are the ambassadors of their branded stablecoin $ZUSD. More eSports partnerships coming soon too, as their Managing Director keeps on speaking of the potential of the eSports market. Other than that, it has to be Decentraland. This game has such an old school feel to it, reminding me of early 2000's game Second Life. On top of that, you can buy land on it that works just like real world real estate; depending on the strategic position of the land that you acquire, you will have people interested in operating businesses on your plot of land.
CBDCs have a totally different use case, let’s say compared to Bitcoin. They are just digital FIAT, fully centralized. Another interesting thing I see is branded stable coins, like a Starbucks coin or Airline Alliance coin to represent as rewards and points. XDB already has an esports coin ZUSD. We might see more of these coming along.
Great to see crypto moving into esports, It’s inevitable!!! Also found XDB that’s going into esports in a different manner, With their esports specific stablecoin ZUSD. Maybe a partnership possible ?!?!?
This is the one people, The GME of crypto going live. Hyped as hell with how ZUSD will be leading crypto into esports!!!
Massadoption is coming, people will be using and exchanging branded stablecoins which will be run on XDB rails. Look at the recently launched $ZUSD stablecoin aimed at gamers and millennials. This is only just getting started....massive
Tell your dad that the next big scam thats gonna make him rich is esports and gaming. Many people are still not paying attention to this space, but XDB is making massive moves with their esports and gaming specific stablecoin ZUSD. Just partnered and listed on Secure Digital Markets, one of North America's leading digital asset and institutional trading desks. The next defi will be in gaming and esports. [https://finance.yahoo.com/news/secure-digital-markets-announces-integration-140000358.html](https://finance.yahoo.com/news/secure-digital-markets-announces-integration-140000358.html)