Product Launch + new DeFi legos
StableUnit is an unstoppable, community owned stablecoin that distributes system’s profit directly to your wallet. It’s overcollateralized, but restakes collateral and uses loan/liquidation profit to benefit every holder.
Most of the $130B value is in fiat-collateralized stablecoins like Tether and USDC. Decentralized stablecoins like DAI and sUSD make up only a small portion of the total supply, meaning the vast majority of stablecoins are centralized and can freeze funds at any moment. (proof: https://twitter.com/lebed2045/status/1426162635226157064?s=20)
Stablecoins are faster, programmable, and yield higher interest compared to the classical finance instruments. These advantages may result in substantial off-chain capital adoption on the blockchain. Right now, the market share of stablecoins is less than 6%, and is expected to grow significantly.
StableUnit protocol (https://stableunit.org/StableUnit-whitepaper.pdf) is a censorship-resistant CDP-based stablecoin with a multi-layered stabilization model secured by capital-efficient DeFi assets.
This approach unites the robustness of over-collateralized stablecoins (e.g.DAI) with the scalability of algo-stablecoins without compromising decentralization. Moreover, it uses collateral to generate profit and automatically distributes it to every wallet holding suUSD.
Architect – ex 1inch, xSigma, Amazon, FB, math degree, prizewinner ethBoston, ethDenver, ethNY, ethLisbon wrote ethereum contracts for more than a billion dollars
Front-End – Dapper Labs (cryptokitty), ethDenver
Product – Intel, Oracle, Uber
UX/UI - Uber, Nutanix, GoFundMe
Hi to Harmony team https://twitter.com/adrianrobison/status/1452369230179934209?s=20
Economy – Google DeepMind, MSU math degree
Simulation – bitTensor, Google, DARPA
Community – Award-winning journalist with 20y experience.
Total $50k in ONE tokens
Overcollaterrisde stablecoin that uses collateral to generate profit and distribute half of it to currency holders is an immensely complicated project that requires lots of DeFi building blocks.
On Harmony, although fully evm compatible, lots of native ethereum tools needed to be adopted.
At the result of the proposal implementation, Harmony gets:
Documented and tested building blocks that can be reused in lots of new products to give the procol competitive advantage:
Oracles, collateral management, CDP registry, stake/loan code.
And much more important, 3 new DeFi lego pieces:
- collateral profit management block (super useful for any protocol with collaterals)
- erc20 with continuous linear passive dividends payment
- Gnosis Safe multichain vanity deployment code (right now Harmony supports custom https://multisig.harmony.one/ so it’s immensely complicated to get multisig with the same address on harmony and other chains. Our architect helped to rescue tens of thousands of dollars locked multisig money for different projects where people mistakenly sent funds to multisig but on a wrong chain so money gets stuck. One metaverse project has 100k USDC on polygon right now, a solution for Harmony that surely can save money and nerves).
Milestone 1: Testnet launch
Milestone 2: 1 mil TVL
Milestone 3: 10 mil TVL