$LSDD

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The $LSDD(LSD-Dollar) stablecoin is a decentralized, unbiased, LSD collateral-backed cryptocurrency pegged to the US Dollar.

$LSDD is dedicated to unlocking the great liquidity potential of LSD and bringing stability to the volatile world of DeFi. $LSDD focus on circulation and stability( hard-pegged to USD).

• LSDD Protocol (but not $LSDD) is interest-bearing. LSD interest (~5%APY) and $veOcto rewards are mainly distributed to redemption provider and minter (who deposits LSD/ETH to mint $LSDD) instead of the $LSDD holders.

  • $LSDD itself does not have interest-bearing properties, which allows $LSDD to avoid distortions in application scenarios, and thus focus more on circulation rather than asset appreciation.

  • This is fairer to minters as they bear the risk of their assets being liquidated.

  • Minters can keep their LSD assets and interest while minting $LSDD and using it. Minters don't need to hold $LSDD for LSD interest. Feel free to use $LSDD in various application scenarios! That is the way LSD collateral-backed stablecoin should be.

• Standard ERC-20 token. Unlike other interest-bearing stablecoins, usually rebase tokens, $LSDD is a standard ERC-20 token. This reduces the complexity of the constantly changing balance and various problems that may arise in scenarios such as cross-chain bridges.

• No redemption fee, which will make 1$LSDD better pegged to 1USD.

  • The redemption fee usually devalues $LSDD. If a 0.5% redemption fee is charged, you can only get $0.995 worth of ETH for 1 $LSDD.