Hi All, I am here to submit my proposal for adding HUSD to compound.
I saw proposals from GUSD, TUSD on this forum, and I do think HUSD is an asset worth considering.
Category: U.S. dollar backed strablecoin
Issuer: Stable Universal limited
Custodian: Paxos Trust
Backed by: U.S. Dollar, 1:1 ratio
Audit: Withum, monthly
Year of Issuance：July,2019
HUSD is an ERC-20 token that is 1:1 ratio pegged with USD. It was issued by Stable Universal.
To ensure the 1:1 backing is maintained, monthly audits of HUSD are conducted by an independent US audit firm. The reports can be checked here:https://www.stcoins.com/attestation/index
Source: HUSD official website www.stcoins.com
HUSD Liquidity Venues
Official website of HUSD: 1:1 exchange between USD and HUSD , fiat on/off ramp
Centralized Exchanges: Huobi, FTX, HBTC, Hotbit, Hoo
Decentralized Exchanges: Curve, Uniswap, Mooniswap , 0x, kyber network, tokenlon
OTCs: Amber Group, Huobi OTC, Legend Trading, FTX OTC, Paxos
For other DeFi platforms, the MakerDAO community has green lighted HUSD and the domain work is in progressing.(https://forum.makerdao.com/t/husd-mip6-collateral-onboarding-application/2991). And Asia-based DeFi community like Bidao, HubDAO has supported HUSD already.
HUSD Marketcap Ranking
The market and users of HUSD is quite different from the stablecoins on compound, which can provide diversify for the platform, and lower the systematic risks. Sicne for the centralized stablecoins, USDT, USDC and HUSD are facing different market and different legal/compliance requirements.
More users from Asia Pacific for compound. As HUSD gets more users in Asia market, it will bring new users for compound if it is supported.
Risks & Weekness
- The market cap and liquidity of HUSD is relatively lower than USDT, USDC,DAI
- HUSD is not well-know as USDT, USDC,DAI in western countries
Let’s discuss to see if there is any questions or concerns about HUSD on-borading.