sUSD History

What does sUSD do?

sUSD (formerly nUSD) (CRYPTO:SUSD) is a synthetic USD token issued by the Synthetix protocol. It is a decentralized stablecoin that tracks the price of the US Dollar through price feeds supplied by Chainlink's decentralized network of oracles. sUSD is integrated across the DeFi ecosystem as one of the most liquid decentralized stablecoins, including at Curve and Synthetix.Exchange. The Synthetix protocol is a decentralized autonomous organization (DAO) that operates sUSD. The protocol uses a variety of mechanisms to maintain the peg between sUSD and the US Dollar, including collaterization, minting and burning, and oracles. The Synthetix team is currently working on a number of projects, including expanding the Synthetix ecosystem, improving the scalability and efficiency of the Synthetix protocol, and making sUSD more accessible. The overall objective of the Synthetix protocol is to create a decentralized financial system that is accessible to everyone. The Synthetix team believes that sUSD and other synthetic assets can play a major role in this new financial system.

Documentation

Company Snapshot

Employees

50+

Market Cap

$29.62M

Head Office

Melbourne, Australia

Year Founded

2018

What does sUSD specialise in?

/Algorithmic Stablecoin /DeFi /Stablecoin /Store Of Value /Synthetics

What are the products and/or services of sUSD?

Overview of sUSD offerings

Asset backing: sUSD is backed by a basket of collateral assets, including SNX (the native token of the Synthetix protocol), ETH, and BTC. This helps to ensure that sUSD will always be worth at least $1, even if the price of SNX or other cryptocurrencies fluctuates.

Collateral: sUSD can also be used as collateral to borrow other cryptocurrencies or to mint synthetic assets. This makes it a versatile asset that can be used for a variety of purposes.

Decentralized stablecoin: sUSD is a decentralized stablecoin that tracks the price of the US Dollar. This means that it is not controlled by any single entity and is not subject to censorship.

Liquidity: sUSD is one of the most liquid decentralized stablecoins, with a high trading volume on exchanges such as Curve and Synthetix.Exchange. This makes it easy to buy, sell, and use sUSD.

Payments: sUSD can be used to make payments to merchants who accept cryptocurrency. This makes it a convenient way to use cryptocurrency in the real world.

Yield generation: sUSD holders can earn yield by staking their tokens in the Synthetix protocol or by lending them to liquidity providers. This can be a good way to generate passive income.

sUSD

What does sUSD do?