Part 3: Acquiring iUSD, CDP Liquid Staking, and Real-World Utility: A Stablecoin with Potential Beyond DeFi
Utilizing CDP Liquid Staking, swapping ADA for iUSD on DEXs, and exploring iUSD’s potential use cases
Introduction
In the previous articles, we discussed iUSD’s triple-peg mechanism and efficient liquidation system, which have contributed to its stability during recent market volatility. In this final part of the series, we will focus on the process of acquiring iUSD through opening a CDP in Indigo and taking advantage of CDP Liquid Staking or swapping ADA for iUSD on a DEX, and discuss iUSD’s potential real-world utility beyond the DeFi space.
Acquiring iUSD: Opening a CDP in Indigo, and CDP Liquid Staking
Users can acquire iUSD by depositing ADA with a 120% Minimum Collateralization Ratio (MCR) to mint a CDP within Indigo. The deposited ADA continues to earn Cardano staking rewards through Indigo’s CDP Liquid Staking. This unique feature allows users to earn Cardano staking rewards on their deposited ADA collateral while minting iUSD, maximizing the utility of their ADA, and adding an additional yield stream.
Acquiring iUSD: Swapping ADA for iUSD on DEXs
An alternative to minting iUSD through opening a CDP is to directly swap ADA for iUSD on decentralized exchanges (DEXs) within the Cardano ecosystem, such as Minswap or WingRiders. This method allows users to avoid the risks associated with CDP liquidation or to reduce their exposure to ADA.
iUSD’s Integration with Revuto
Revuto, a subscription management platform built on the Cardano network, recently integrated iUSD into its staking center. This integration allows Revuto users to stake iUSD alongside ADA, providing them with more options for earning passive income. This collaboration exemplifies the growing adoption of iUSD in the Cardano ecosystem and highlights its potential for broader use cases.
Exploring iUSD’s Real-World Utility
As iUSD continues to gain traction as a stablecoin within the Cardano ecosystem, its potential extends beyond DeFi, offering a variety of use cases for both businesses and individuals.
- Cross-border transactions: iUSD can facilitate faster and more cost-efficient cross-border transactions compared to traditional banking systems. Its stable value makes it an attractive option for a range of financial operations.
- Everyday payments: iUSD’s stability can be leveraged for everyday payments, both online through services such as revuto or in physical stores. As the Cardano ecosystem grows, iUSD could serve as a stable alternative for transactions, protecting users from market fluctuations.
Conclusion
iUSD’s triple-peg mechanism, efficient liquidation system, and flexible acquisition options, including the benefits of CDP Liquid Staking, make it a key player in the DeFi space and the Cardano ecosystem. Its resilience and stability during times of market volatility show that iUSD can offer users a secure and reliable means of preserving portfolio value. As the Cardano ecosystem continues to expand and integrations like Revuto take place, iUSD’s potential for real-world utility becomes increasingly evident, positioning it as a stablecoin with significant promise beyond the DeFi landscape.
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