sUSD

Halal Rating :
Uncomfortable
Last Price $0.99 Last updated:
Rank 949
1D Change 0.14 %
Market Cap $15.39m
Circulating supply 15,552,006
Maximum supply 142,399,574

Crypto Overview

Categories
  • Store Of Value
  • DeFi
  • Stablecoin
  • Algorithmic Stablecoin
  • Ethereum Ecosystem
  • Synthetics
  • Fantom Ecosystem
  • USD Stablecoin
  • Optimism Ecosystem

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.

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