Elixir deUSD Price

Elixir deUSD ($deusd) is conceptualized as a synthetic dollar asset, meticulously engineered to maintain a stable value of approximately $1.00. Unlike traditional currencies, Elixir deUSD is governed by smart contracts on the blockchain, ensuring transparency and efficiency.

The uniqueness of Elixir deUSD springs from its dual collateral mechanism, utilizing stETH (staked Ethereum) and sDAI (a stablecoin pegged to the US dollar). The collateral deposited is strategically employed to short Ethereum (ETH), establishing a delta-neutral position. This approach allows Elixir deUSD to capitalize on positive funding rates attached to Ethereum, fortifying its stability—particularly during marketplace turbulence or adverse conditions.