Summary
The Verified USD Foundation proposes to list $USDV on the Core Lending markets of Venus for BSC and Ethereum.
Background
Verified USD, also known as $USDV, is a native omnichain stablecoin backed by tokenized real world assets of short-term US T-bills & Repos. The novel stablecoin combines the best of DeFi and CeFi, building upon LayerZero’s Omnichain Fungible Token (OFT) and ColorTrace technology, while tapping into Matrixdock’s access to best-in-class Real World Assets.
USDV is owned and managed by the Verified USD Foundation, an independent and non-profit organisation committed to nurturing USDV’s ecosystem of contributors, developers and users globally.
Website: https://usdv.money/
Public market information
Coinmarketcap: Verified USD price today, USDV to USD live price, marketcap and chart | CoinMarketCap
Coingecko: https://www.coingecko.com/en/coins/verified-usd-usdv#markets
USDV Dune: https://dune.com/matrixdock/usdv-dashboard
DefiLlama: https://defillama.com/stablecoin/verified-usd
Benefits
Passive income
By leveraging LayerZero’s unique ColorTrace technology, $USDV is able to link Real World Asset yield rewards based on circulation contributed by Venus in a transparent and fair manner. At current Treasury rates, Venus can generate 2.5% yield from USDV that stays in the Venus ecosystem.
Assuming an average annual TVL of US$20M, that would generate a passive income of $500K for Venus protocol. Venus can utilise this additional stream of income as per the DAO existing Tokemics. - in any way with no restrictions.
Security
By onboarding USDV, Venus allows users to diversify fiat-backed stablecoin concentration from USDT and USDC. USDV has been vetted by the best-in-industry for risk and security, see below reports.
- Paladin Audit Report - Oct 27th 2023
- Zellic Audit Report - Oct 26th 2023
- OtterSec Audit Report - Oct 13th 2023
- Chaos Labs Risk and Economic Security Assessment - Nov 9th 2023
Additionally, USDV is developed on LayerZero’s OFT standard, enabling global liquidity with ‘burn and mint’ mechanism, with the option to expand into all LayerZero supported blockchains (50+) without the risk of bridging or wrapped assets.
Transparency
USDV utilises Chainlink Proof of Reserves to provide complete transparency of its tokenized underlying assets, ensuring 100% collateralization on-chain 24/7. Short-term Treasury Bill Token (STBT) | Matrixdock
Historical transaction data related to USDV minting, redemption and circulation is also available on-chain. Transparency | USDV
New venues and volumes
USDV is live at the following venues, which may contribute to Venus TVL & volume growth
- CeFi: Bitget, bit.com
- DeFi: Uniswap, Pancakeswap, Curve, TradeJoe, Velodrome, THENA and more
The USDV Foundation is committed to establish more trading pairs at top CEXes and DEXes, expand onto new chains and forge new partnerships with leading protocols.
Incentives
To support $USDV listing on Venus Core Lending Markets, the Foundation is to provide $20,000 $USDV of user incentives over the first month to attract users and promote seeding.
Token contracts
Ethereum: 0x0E573Ce2736Dd9637A0b21058352e1667925C7a8
BSC: 0x323665443CEf804A3b5206103304BD4872EA4253
