Scaling Stable Coins
VUSD is Backed by other StableCoins such as USDC , USDT, DAI, BUSD, Frax and more.
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About
VUSD is Backed by other StableCoins such as USDC , USDT, DAI, BUSD, Frax and more. Creation of VUSD Deposite the collateral Tokens(USDC, USDT, DAI, BUSD, Frax) and Mint VUSD Burning of VUSD Burn VUSD and get back the collateral Tokens(USDC, USDT, DAI, BUSD, Frax) Why we Need VSDC Diversification: By backing the VUSD with multiple stablecoins, the risk is spread across various assets, reducing the potential for any one asset to cause a significant impact on the overall value of the stablecoin. Currently, this smart contract is deployed on Polygon ZK-EVM
How it's made
We first learned about the current problems in stable and looked into different possible solutions. and then we explored many solution paths. We have decided to create a stablecoin basket as the optimal solution. We have deployed our smart contract in Polygon ZK-EVM Testnet, it will be deployed to Polygon ZK-EVM Mainnet in the Future. While deploying the contract we used Hardhat.