DigitalDollar - $DUSD
#1st RWAT DigitalDollar
In a world of distrust and opacity both in the centralized & decentralized ecosystems, a new leader needs to emerge to bring the bridge of mass adoption to both worlds. In response to our vision of a decentralized future, we created fiatUSD, a stablecoin 2.0 with a better value proposition to users in both worlds.
DigitalDollar was designed from the ground up to be the best stablecoin possible. It was designed at all points with DeFi users in mind.
Every DigitalDollar, is backed 1:1 by a real US dollar, in a client safeguarded insured bank account. The USD reserves, are then broadcasted to the blockchain in real-time through an oracle, for anyone to verify. In fact, the smart contract does not allow more $DUSD to be created than there are verified USD reserves.
It works very simply. Every user with a FluidFi account, can hold, deposit and exchange EUR/USD/GBP/CHF. From there, a user can press 'mint' to turn his USD into $DUSD in his/her Metamask, within minutes. When cashing out back into USD, you just press 'redeem', the contract burns your $DUSD, and you get credited with real US dollars in your account again. This is how we ensure not only a full 1:1 backing that is verifiable on-chain, but also the best user experience possible.
For more in-depth content, read our Medium article about $DUSD:
https://medium.com/fluidfi/introducing-digitaldollar-dusd-7ef626bb9958
- Smart contract enforces 100% backing. Can’t mint more DigitalDollar supply than the verifiedOffchainAssetBalance. 24/7 on-chain transparency
- Guaranteed 1:1 fiat redemption, even in case of bankruptcy or if it loses its peg on the crypto side
- DigitalDollar + FluidFi multi-currency account: the cheapest, fastest, safest.
- Fast, low-cost Fiat-DeFi bridge
- A DeFi first approach to stablecoins
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