What is jUSD? You made dUSD the native “stablecoin” and

Question

DeFiChain - International

M

What is jUSD? You made dUSD the native “stablecoin” and

now create a new one?

#blockchain #cryptocurrency #defichain #english

0

18.07.2023

15 ответов

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Roger Dawn

DanieL BaptistA
Hi! Sorry but you are mixing things 😅 Jusd is a ...

By any chance do you know if they are planning of having a dtoken system without the algo of course or is the jusd only a way to leverage crypto?

0

18.07.2023

DanieL BaptistA

Roger Dawn
By any chance do you know if they are planning of ...

Honestly I do not yet know, their white paper is to be released soon and with them, all those answers will be answered. But for now and unless I missed something, I can't really answer you on that point.

0

18.07.2023

M Автор вопроса

DanieL BaptistA
Hi! Sorry but you are mixing things 😅 Jusd is a ...

Ok i get it jUSD is like USDC or USDT on Ethereum. I am honestly happy that there is still so much effort to bring the project back on track. But the 60% algo coins in dUSD are a really big risk for Defichain.

0

18.07.2023

Roger Dawn

M
Ok i get it jUSD is like USDC or USDT on Ethereum....

That 60% is only because the NI if that gets removed (hopefully it does) algo will spike back up to 80-90% based in the fact that before NI there were only around 10 Million backed dusd, now if the make a jtoken system that is actually collateralized it would be really good for users im not sure if it will be for DFI unless they have the 50% rule for the vaults

0

18.07.2023

Pho

M
Ok i get it jUSD is like USDC or USDT on Ethereum....

It’s more like LUSD on ethereum, it’s crypto backed

0

18.07.2023

Zachary Chan

M
Ok i get it jUSD is like USDC or USDT on Ethereum....

Jellyverse is not DefiChain. As @DmgBautista mentioned, it is a MetaChain project built

0

18.07.2023

M Автор вопроса

Roger Dawn
That 60% is only because the NI if that gets remov...

What is Nl, and why should the algo dUSD go back up to 90%?

0

18.07.2023

Roger Dawn

M
What is Nl, and why should the algo dUSD go back u...

Negative Interest you get pay to borrow dusd and people just borrow dusd to loop them and get free dusd but if the NI gets removed people will close those loans the number of backed dusd will decrease therefore algo ratio will increase

0

18.07.2023

Zachary Chan

M
Ok i get it jUSD is like USDC or USDT on Ethereum....

Defichain, the native core blockchain and the way it works remain the same. DFI remains its native token, dUSD and dToken ecosystem is one of its unique features. How it functions and all the existing measures in place to reduce algo such as the burnbot will not be affected by external projects building on DMC. The only way those will change is through the DFIP on-chain governance system in place. If someone proposes something new and gets approved.

0

18.07.2023

Roger Dawn

M
What is Nl, and why should the algo dUSD go back u...

Just to be clear algo dusd wont increase if the DFI gets removed just the algo ratio.

0

18.07.2023

M Автор вопроса

Thanks for the explanation, so algo will increase in ratio when someone closes its loan but no new algo will be introduced. How is negative interest paid?

0

18.07.2023

Zachary Chan

M
Thanks for the explanation, so algo will increase ...

Part burnbot, part 30% dex stabilisation fee, there are multiple past proposals in place that fuel the negative interest.

0

18.07.2023

M Автор вопроса

Zachary Chan
Part burnbot, part 30% dex stabilisation fee, ther...

As long as no dusd is created from fine air I am supporting it ❤️

0

18.07.2023

Roger Dawn

M
Thanks for the explanation, so algo will increase ...

Is deducted from your loan lets say you borrow 1000 dusd after a year you only have to pay back 800 for example, but the problem with NI is that makes the burning measures less effective and basically algo dusd has to be burned twice

0

18.07.2023

DanieL BaptistA · Accepted Answer

Hi! Sorry but you are mixing things 😅 Jusd is a stablecoin from the jellyverse ecosystem, a defi ecosystem that is being built in DeFi Meta Chain, therefore powered by Defichain in it's core, but neverthless, a separate project built by it's dedicated team of members who decided to seize the oportunities that DeFi Meta Chain will offer. Much like Ethereum, being EVM compatible, DeFi Meta Chain will allow anyone to build whatever it wants on top of DeFiChain 🙂 Jellyverse will be powered by DFI, and also by it's own native tokens, like JLY (the DFI equivalent in their ecosystem, for which you can do LM between JLY and DFI for example), and jUSD, which will be Jellyverse stablecoin. The best way to not have any doubts, is to check the video 🙂

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