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Principal Engineer At Ethereum Scaling Solution Matic Proposed Stablecoin DefiDollar

Summary: Arpit Agarwal, Principal Software Engineer at Ethereum’s scaling solution Matic Network, introduced a new stablecoin called DefiDollar (DUSD).According to him, DefiDollar is an attempt at being an index of stable coins that uses Defi primitives to stay near the dollar mark and subsidize the collateralization ratio. Since DefiDollar (DUSD) is backed by existing stablecoins, for ...

Arpit Agarwal, Principal Software Engineer at Ethereum’s scaling solution Matic Network, introduced a new stablecoin called DefiDollar (DUSD).According to him, DefiDollar is an attempt at being an index of stable coins that uses Defi primitives to stay near the dollar mark and subsidize the collateralization ratio. Since DefiDollar (DUSD) is backed by existing stablecoins, for the sake of the illustration, the team will start with choosing two stablecoins like Dai and sUSD as the underlying reserves, in an equal ratio.

Tracy Chen

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