USDS

Halal Rating :
Comfortable
Last Price $1.0 Last updated:
Rank 10519
1D Change 1.20 %
Market Cap $6.51b
Circulating supply 6,426,376,182
Maximum supply None
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • DeFi
  • Stablecoin
  • Asset-Backed Stablecoin
  • Ethereum Ecosystem
  • Avalanche Ecosystem
  • Polygon Ecosystem
  • Fantom Ecosystem
  • Arbitrum Ecosystem
  • Harmony Ecosystem
  • Moonriver Ecosystem
  • BNB Chain Ecosystem
  • USD Stablecoin
  • Optimism Ecosystem
  • Rehypothecated Crypto

Overview

USDS (SameUSD) is a stablecoin cryptocurrency designed to maintain a 1:1 peg with the US Dollar, launched by SameID. The project aims to provide a stable medium of exchange and store of value within the cryptocurrency ecosystem.

Purpose and Utility

The primary purpose of USDS is to serve as a stablecoin for trading and transactions. It is designed to provide stability in the volatile crypto market and facilitate easier trading between cryptocurrencies. The token operates on multiple blockchains including Ethereum and BNB Chain.

Business Model Analysis

USDS operates as a stablecoin, maintaining its value through a combination of collateral backing. The business model appears transparent in its operations and purpose.

Real-World Adoption

USDS has achieved some adoption within the cryptocurrency trading ecosystem, particularly on decentralized exchanges. The stablecoin is actively traded and used for trading pairs on various platforms.

Platform Development

The project maintains regular development activity focused on maintaining the stability mechanism and expanding cross-chain capabilities. The team appears to be actively working on expanding the utility and adoption of the token.

Token Distribution

The token distribution appears to be primarily market-driven, with tokens being minted or burned based on demand and collateral deposits. This mechanism is transparent and follows standard stablecoin practices.

Crypto Impact

To assign a comfort level investing in USDS 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 USDS.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

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