Hey idle community,
When I am using harvest I noticed Idle. And I am attracted by the product design as well as concept idle has. Here is my proposal to discuss about adding support for stablecoin HUSD on idle.
What is HUSD?
issuer: Stable Universal limited
Custodian: Paxos Trust
Backed by: U.S. Dollar, 1:1 ratio
Audit: Withum, monthly
Year of Issuance：July,2019
Basic Data
Stablecoin Ranking: #7
Circulating Marketcap: $251 million
Accumulated issuance: $2.78 billion
Trading Volume (24 hours): $ 20 million
How to get HUSD Liquidity
- Official website of HUSD: 1:1 exchange between USD and HUSD , fiat on/off ramp
- Centralized Exchanges: Huobi, FTX, HBTC, Hotbit, Hoo
- OTCs: Amber Group, Huobi OTC, Legend Trading, FTX OTC, Paxos
DeFI Platforms Who Supporting HUSD
- Trading: Curve (with liquidity mining) ,Uniswap , 1inch, Mooniswap (with liquidity mining),0x, kyber network, tokenlon
- Lending:CREAM, ForTube, WePiggy
- Others:Harvest, YFII, MakerDao (green lighted)
Benefits for idle Community
More Diversify For the System
For Centralized stablecoins idle has supported, you can clear see the differences.By adding a new stablecoin asset with monthly auditing, regulated trust holding and different issuer, can lower down the sysmetic risk.
Attract Asian Pacific Users
As HUSD has users in both centralized world and defi community, which is quite different from what USDT/USDC has, it will brings idle more opportunities to attract new users from more other regions.
Potential Obstacles
The market cap and liquidity of HUSD is bigger than sUSD, but relatively lower than USDT, USDC, DAI and the liquidity is not good as them. So the score of HUSD will be lower than DAI USDC and USDT.
No other drawbacks observed now.
References
HUSD Twitter:https://twitter.com/Stablecoin_HUSD
HUSD Official Website:https://www.stcoins.com/
HUSD Attestation Reports: https://www.stcoins.com/attestation/index
HUSD Data Center:HUSD Data Center | Stablecoin HUSD Market Data and Statistics | Stable Universal
