DEI the Stablecoin
Like BUSD at Binance, Traders using DEI will enjoy better fee structures while trading derivatives on DEUS v3.
DEI Core functionality
DEI is an fractional reserve stablecoin, forked and inspired by frax.finance and can be used as a unit of account for derivative-based trading on protocols built on the DEUS infrastructure layer. Traders, Protocols and Market Makers utilizing and offering trading via DEUS v3 using $DEI as stablecoin will enjoy better Fee Structures, than when using $USDC.
DEI has a 100% minting ratio and 9% seignorage.
- 100% USDC is required to mint $DEI (ie. $1 USDC is required to mint 1 $DEI)
- On mint, 9% is used to buy back $DEUS and deposited into the DEI redemption contract
- On redemption, 9% is transferred out of the redemption contract. This figure adjusts constantly and can be viewed in the minter stats.
- Muon Oracles – DEI leverages Muon’s Subsequential Consensus and its Pythia module for live price feeds. As opposed to Uniswap’s TWAP or Chainlink’s oracles, Muon has on-demand price feeds with HTTP latency as its only lag. Price fluctuations are absorbed instantaneously. To learn more about Muon oracles, visit their gitbook here.
- Two Tokens – DEI is the stablecoin targeting a tight band around $1/coin. DEUS ($DEUS) is the DEI governance token that accrues fees, seigniorage revenue, and excess collateral value.
- Secured by Lossless – Lossless offers an additional layer of security and mitigates the impact of exploits by utilizing threat identification tools and unique monitoring systems.