INTRODUCING DECENTRALIZED US DOLLAR (DEUSD) – THE FUTURE OF DEFI MONEY

Summary from the TLDR Crypto newsletter

deUSD uses stETH and sDAI as collateral and earns yield by shorting perpetual derivatives, like Ethena's USDe. When funding is favorable, it hedges using longs and holds T-bills in negative funding environments. Permissionless mints and redemptions will go live in December, and deUSD will be the default collateral in the Elixir ecosystem.