Introduction
Elixir is a high-throughput network powering exchange-based use cases, acting as the primary source of orderbook liquidity on six exchanges and powering deUSD – DeFi’s native yield-bearing dollar.
deUSD serves as the rails for institutional assets to access DeFi. Used exclusively by Securitize, deUSD is the default currency bringing on-chain composability for BlackRock, Hamilton Lane, and others. deUSD is natively yield bearing, earning from a mixture of treasuries and funding yield, and will serve as preferred collateral for orderbook exchanges.
deUSD also is the backing asset for ecosystem-native stablecoins and related products including Sei Network’s native stablecoin (fastUSD) and Reya Network’s stablecoin liquidity vault. Other upcoming deUSD backing additions will include Movement’s moveUSD (100% wrapped sdeUSD), and Plume’s stable asset vault.
Motivation
Elixir’s deUSD has garnered support from both retail and institutional investors, with ~$100M of onchain liquidity and $220M+ of TVL just months after launching. Institutions have expressed significant interest in adding both deUSD and its yield-bearing staked version (sdeUSD) to the lend/borrow markets on Compound - we estimate that more than $30M in deUSD from institutional holders would be deposited within the first week.
Staked deUSD’s native yield ranges weekly from 10% to 30%+ APY (not including additional Elixir potion incentives) – making this an attractive market for Compound users.
Important Links
- Website: elixir.xyz
- Twitter: x.com/elixir
- Current Marketcap:
- deUSD: $221,104,686.79
- Staked deUSD (sdeUSD): $131,035,770.80
- Coinmarketcap, Coingecko; Blockexplorer link and contract address:
- https://www.coingecko.com/en/coins/elixir-deusd
- Elixir deUSD price today, DEUSD to USD live price, marketcap and chart | CoinMarketCap
- deUSD blockexplorer: $1.00 | deUSD (deUSD) Token Tracker | Etherscan
- sdeUSD blockexplorer: Staked deUSD (sdeUSD) Token Tracker | Etherscan
- deUSD contract address: 0x15700B564Ca08D9439C58cA5053166E8317aa138
- sdeUSD contract address: 0x5C5b196aBE0d54485975D1Ec29617D42D9198326
- Audits: Elixir has had multiple audits from Trail of Bits (2023, 2024) and Quantstamp (2024, deUSD & sdeUSD-specific): docs.elixir.xyz/audit
Important links
- Initial post - Add Collateral deUSD & sdeUSD (staked) on USDC/USDS/USDT on Mainnet
- Risk Recommendations by Gauntlet - Add Collateral deUSD & sdeUSD (staked) on USDC/USDS/USDT on Mainnet - #6 by Gauntlet
- Asset assessment by OpenZeppelin - deUSD and sdeUSD Asset Assessment
NOTE: attentively read the asset assessment by OpenZepplin as it has one Medium issue related to sdeUSD.