sUSD
Crypto Overview
Purpose and Utility
sUSD is a synthetic USD stablecoin created on the Synthetix protocol. It's designed to maintain a 1:1 peg with the US dollar through a collateralization mechanism using SNX tokens. Users can mint sUSD by staking SNX as collateral.
Business Model
The token serves as a stable cryptocurrency within the Synthetix ecosystem, enabling users to trade synthetic assets. The protocol generates revenue through trading fees and collateral management. The core mechanism relies on overcollateralization rather than interest-bearing loans.
Real-World Adoption
sUSD is actively used within the Synthetix ecosystem for trading synthetic assets and as a stable medium of exchange. It has integration with various DeFi protocols and decentralized exchanges.
Platform Development
Synthetix maintains active development with regular updates to the protocol. The platform shows consistent developer activity and community engagement through governance proposals and technical improvements.
Token Distribution
The supply of sUSD is determined by user demand and SNX staking. There is no fixed supply, as tokens are minted when users provide collateral and burned when debt is repaid.
Crypto Impact
To assign a comfort level investing in sUSD from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to sUSD.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.