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$USDY — A Stable Coin You Can Trust — Crypto-Pegged Asset 1:1 Ratio To $BUSD — What Makes $USDY Different From $UST? And What Protects It From De-Pegging?
$USDY is a decentralized stablecoin which is crypto-pegged in a decentralized way with $BUSD, at a 1:1 ratio. $BUSD is rated as the most reliable stable coin in the crypto space, considering that it is owned by Binance the biggest crypto exchange in the world, we agree with that statement. The stability of $BUSD will help maintain the stability of $USDY with the United States Dollar, our job was to design a crypto-asset that is pegged and always at a 1:1 ratio with $BUSD, and Binance is doing the heavy lifting keeping that pegged with the United States Dollar. This is the type of sustainability that other stable coins which got de-pegged or facing a de-pegging scenario are lacking ($UST, $USDD, etc).
A Piece of YieldTopia’s Profits: All $USDY holders will earn a passive income from YieldTopia’s profits, each and every utility of YieldTopia generates an income that will automatically distribute a portion of that to all $USDY holders. This income is completely passive and will appear in your wallet. DEX Liquidity Provider: Become a liquidity provider for your favorite crypto assets provided with $USDY, you can create LPs on YieldTopia Swap or other DEXs / Swaps and earn a fee from each swap. Earn Via Lending: YieldTopia is working on multiple partnerships with large and well-known lending protocols and DAOs that support lending. Once the partnerships finalize and get announced, $USDY will be listed on these platforms and will become available for the holders of $USDY to earn additional income when lending via these various platforms. Staking & Farming: $USDY will be available on YieldTopia’s farming & staking pools. In addition, similarly to the lending feature, we are currently working on various partnerships with staking / DAO platforms which will allow $USDY holders access to profitable pools dedicated to $USDY. As YieldTopia grows additional partners and opportunities will be added. Referral: Earn additional rewards by referring your friends & family.
When $USDY was first introduced to YieldTopia’s community there were mixed emotions about the stable coin, it was a 50/50 between our community members who were pro the idea, and others who weren’t too excited about it. Needless to say, since then we have presented our community with the exact mechanism that back $USDY and ensures to keep it pegged, the benefits behind holding $USDY, and the audited contract source code which ensures that there are no security issues on that end. But let's talk about it: DeFi FUD.
Considering the latest down-fall of the mega crypto project Tera Luna, Defi investors are experiencing high amounts of FUD when it comes to stable coins, which is understandable. The downfall of $UST was truly shocking to the entire crypto community, an $18+ billion liquidity pool de-pegging from the $1.00 price to close to $0. Many people lost their life savings and with that, they lost their hope in decentralized finance. If that wasn’t enough, $USDD is facing a similar de-pegging danger as $UST did, making the holders of Tron’s stable coin nervous for their crypto assets.
Unfortunately for many believers of $UST and $USDD, both Justin and Do Kwon simply made irresponsible choices, created unrealistic mechanisms, and took a risk of de-pegging with investor funds. We Analyzed Other Stable Coins And We Learned That The Following Factors Are a Key To a Successful And Sustainable Stablecoin: Backing of a large corporation that will ensure the pegging of 1:1 with USD, in our case we chose BUSD aka Binance. The stable coin must be worth holding for investors, it must be involved in the DeFi economy, and it must be useful. This is why we are encouraging our community to become liquidity providers, holders, lenders, borrowers, stakers, farmers, and all the other healthy activities for a stable coin in the DeFi space. In exchange, our holders gain additional income from doing so. It’s a win-win situation, which is sustainable and profitable to all. Unexploitable & Safe Sourcecode: we can’t stress enough how important it is to double, triple, quadruple check a contract source code before deploying the official main net version of it. As you probably know once the code is on the blockchain there’s no way to edit that specific contract address anymore, and that’s why it is extremely important to get your work audited by a 3rd party security company. That is exactly what we did with YieldTopia, we got out contracts audited by InterFi, which is a popular audit company in the DeFi space. $USDY checks all the key factors mentioned above. We took our time to create a sustainable and bulletproof ecosystem that DeFi users can trust, and not because we’re asking them to but because it is simply TRUSTLESS. We’re looking to lead by example and set ground rules for future projects that are planning to create similar sustainable crypto-assets. We hope that this article helped answer questions and concerns that you may have had, if you have any questions that remained unanswered, feel free to join our Telegram chat and ask away: https://t.me/YieldTopiaChat
- Website: https://YieldTopia.finance
- Whitepaper: https://docs.YieldTopia.finance
- Telegram Chat: https://t.me/YieldTopiaChat
- Telegram Channel: https://t.me/YieldTopiaChannel
- Medium / Blog: https://medium.com/@YieldTopia
- Twitter: https://twitter.com/YieldTopia
- First Opportunity: Presale on July 9-10
- Second Opportunity: IDO on July 12
- Secondary Markets (DEXs): July 12~+