Stablecoin
The DEUS stablecoin is currently under development and is set for launch in Q1 2024. DEUS assembled a new team, led by Mazett, our newly onboarded TradFi expert. This dedicated group is focused on re-designing and re-launching a stablecoin under the renowned DEUS brand.
Since its formation in 2019, the DEUS team has navigated the blockchain space with a clear vision. Their primary goal was formulating a decentralized and permissionless derivatives system, which should seamlessly coexist alongside a in-house scalable, decentralized, and censorship-resistant stablecoin. These two objectives, though aligned in spirit, presented unique challenges and complexities. As with any endeavor in the ever-shifting terrain of blockchain technology. Recognizing the distinct challenges of each path, the DEUS team made a strategic decision in August. To bifurcate their efforts, focusing separately on the development of the stablecoin and the derivatives infrastructure, ensuring dedicated attention and expertise for both.
Restructuring and Reinventing
In the span of the project, the stablecoin development faced a critical security breach, as well as economical weaknesses. These incidents were unfortunate reminders of the need for constant vigilance and adaptive technology in the realm of decentralized projects.
To face these challenges head-on and ensure that the core vision remains undeterred, the DEUS team initiated a comprehensive redesign and redevelopment of their stablecoin concept. Not only about revisiting the technological foundation, but also about introspection and rebuilding the very team that's driving this dream forward.
Recognizing the need for Q/A expertise beyond just blockchain technology, the DEUS team on-boarded an economics specialist with a seasoned background in traditional finance (TradFi) and restructuring. This infusion of cross-domain expertise is expected to fortify the project's approach and integrate best practices from both decentralized and traditional financial worlds.
Initial Thoughts by Our New Expert
As we move forward with the restructuring and redesigning phases, our newly hired expert has already begun contributing his insights to steer the project in the right direction. For those interested in understanding his perspective and approach, we recommend reading his article:
This link provides a deep dive into his preliminary thoughts and strategies that are likely to shape the future course of the DEUS stablecoin project.
In Conclusion
While challenges and setbacks can deter many, they serve as fuel for rejuvenation for the DEUS team. We remain resolute in our quest to build a decentralized, censorship resistant and scaleable stablecoin, learning from our experiences.
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