CryptoCurrencies
14787
Exchanges
500
Total Market Cap
2,242,267,541,239
Volume 24h
135,106,951,575
Dominance
BTC 53.46%   ETH 12.71%   USDT 5.34%   BNB 3.71%

Overnight.fi USD+
USD+

1.000
$
0.06 %
Change 24h
Market Cap
$ 75,114,277
Volume 24h
$ 1,683,684
Circulating Supply
75,107,062
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.