Wrapped USD

And that is Wrapped USD. There's no "management", "roadmap", "team", "multisig", "world-changing [insert narrative]", etc. It's just an immutable, governance-free, multi-fiatcoin wrapper (and parody). Use as you see fit. One last meme: docs.wusd.fi/misc/memeparis… /end

...and is primarily a way to ensure this is actually possible. It's no silver bullet on its own but it does eliminate having to tie oneself in knots when trying to deal with the negative externalities of non-contributing, would-be value-extractors. /8 twitter.com/spencernoon/st…

With the finalized audit, restart of the Wrapdrop, and deployment of the WUSory, $WUSD is now well and truly complete. To that end, all external access functions have now been rescinded. Recap... /🧵

On the more technical side of things, the WUSory gives referral units, which convert to $GLO credits, to those running a frontend. If a WUSer is created or recharged via your frontend, you earn referral units. Read more here: docs.wusd.fi/dev/frontend/w… /end

After a recharge, the WUSer starts granting credit to LPs for another 30 day period. This process continues in perpetuity. If a WUSer isn't recharged, it stops granting $GLO credit to LPs. Users will still be able to provide liquidity but no $GLO credit will be earned. /5

The final part of $WUSD: the WUSory. /🧵

And finally, the "squeeze". You can now collect your earned $GLO before the end of the Wrapdrop. However, using this option means you forfeit 50% of the claim and any credit that that would've been earned. Read the full guide here: wrapdrop.wusd.fi /end

With the Bypasser, unlike direct wrapping, you no longer have to worry about (un)wrapping your $WUSD every other epoch just to try again. This also gives you an extra full $GLO credit on the liquidity provided, separate from the Wrapdrop, provided enough rounds have passed. /2

$WUSD × @10b57e6da0 × @EthBlockArt "but it is FCFS" "I have to unwrap to try again" No longer! /🧵