USDB
Crypto Overview
Overview
USDB is a decentralized stablecoin issued by the Backd Protocol, designed to maintain a soft peg to the US Dollar. It was launched in 2024 and operates on the Ethereum blockchain.
Purpose and Utility
The primary purpose of USDB is to serve as a stablecoin within the DeFi ecosystem. Users can mint USDB by depositing ETH or other supported collateral assets into the protocol. The stablecoin is designed to be used for trading, payments, and as a stable store of value.
Business Model
The protocol generates revenue through liquidation fees and stability fees charged to users who mint USDB. The business model is based on overcollateralization of assets to maintain stability.
Real-World Adoption
USDB has gained initial traction in DeFi protocols and decentralized exchanges. The token has achieved integration with several major DeFi platforms for trading and liquidity provision.
Platform Development
The protocol shows active development with regular updates to smart contracts and protocol mechanisms. The team maintains transparent communication about protocol changes and improvements.
Token Distribution
USDB is minted by users who deposit collateral, with no pre-mine or team allocation. The token supply is entirely dependent on user demand and collateralization requirements.
Crypto Impact
To assign a comfort level investing in USDB 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 USDB.
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.