Meet the new and improved UZD stablecoin
Hey there, Zunami community!
The team behind Zunami is excited to unveil UZD 1.2. As previously mentioned, we received feedback from the Curve DAO & community and decided to redesign UZD based on that.
In this blog post, we will go over what UZD is, and the changes introduced in version 1.2.
$UZD is a rebase token that grows based on Zunami Protocol APY. Minted using LP tokens from Zunami Protocol. Backed by stablecoins in Curve Finance pools. Can be redeemed with USDT/USDC/DAI at any time, ensuring protection from depeg.
Our goal is to provide the easiest way for average users to get the best returns on Curve Finance, Convex Finance, Stake DAO thanks to $UZD’s native staking feature and create one of the most profitable pools through rebase design and high native APY of $UZD .
$UZD solves the stablecoin trilemma, as it is decentralized through collateralization by various stable crypto assets, protected from depeg through instant redemption mechanism, and capital efficient due to its native APY from top pools on Curve Finance.
$UZD 1.2 is a pool-aware token — it stops rebasing when in the pool, but continues when outside. CRV, CVX originally intended for rebasing are locked or used for bribing instead, while received veCRV and vlCVX are used for voting.
Pool growth has no negative impact on the price of CRV. In fact, the more funds in the pool, the more CRV and CVX will be locked. Zunami increases vlCVX and veCRV in the treasury as the pool grows, boosting pool profitability through votes.
The Zunami team thanks the Curve community for their valuable feedback and is delighted to continue working on the development of the entire ecosystem.
UZD’s updated design is the key to growing together:
- UZD outside the pool maintains a high aggregated APY;
- UZD in the pool maintains high profitability thanks to fees and lock rewards;
- We exclude pressure on the price of CRV;
- The Zunami CRV Treasury foresees a long-term outlook for UZD.
Meet UZD 1.2 and a new pool on Curve Finance!
We are re-launching the early bird program for the first providers of liquidity to the Curve pool with additional UZD stimulation. Hurry up to become one of the first liquidity providers and get an astonishing APY in the first months since the pool’s launch!
Useful links:
Curve Pool — https://curve.fi/#/ethereum/pools/factory-v2-284/deposit
UZD contract — https://etherscan.io/address/0xb40b6608B2743E691C9B54DdBDEe7bf03cd79f1c
