CryptoCurrencies
16109
Exchanges
500
Total Market Cap
3,609,704,886,904
Volume 24h
414,204,695,972
Dominance
BTC 53.86%   ETH 11.49%   USDT 3.87%   XRP 3.65%

Overnight.fi USD+
USD+

0.9989
$
0.84 %
Change 24h
Market Cap
$ 48,031,230
Volume 24h
$ 1,319,727
Circulating Supply
48,085,096
Total Supply
53,309,551
USD+
$
# Exchange Pair Price Volume 24h

Description

USD+ is a yield-generating stablecoin yielding 8-12% pa, via daily rebase. It is fully backed by a portfolio of liquid, yield generating, low-risk DeFi assets (mostly, lending protocols and stable-to-stable liquidity pools in a way that allows to (1) avoid losses and generate profit every day (2) mint and redeem USD+ against USDC instantly on request. USD+ is used for (1) liquidity management - temporary parking of spare stablecoin cash (2) AMM trading and (3) leveraged yield farming. USD+ brings the benefit of capital efficiency to stablecoin usage, i.e. extra yield on idle stablecoins and/or used in major protocols USD+ is currently on Polygon and expanding to other chains. We are going to market by establishing USD+ trading pairs at leading AMMs: (1) Stablecoin boosted pools on Balancer/Beethoven (2) ETH-USD+, Matic-USD+ on Quickswap/Uni V2, (3) potentially, Curve. The advantage USD+ has is our ability to maintain the peg without deploying our own capital - as USD+ can be minted/redeemed against USDC instantly, we are able to arbitrage our pools using flashloans, without our own capital, thus maintaining the peg.