USE

USE is an open-source algorithmic stablecoin, decentralised and scalable by design. It is specifically suited for cross-chain trading. Coming soon to Ergo, Cardano, BNB Smart Chain, and more.

@manastaking/use-algorithmic-stablecoin-part-2-building-defi-together-7c466473dda7" target="_blank" rel="nofollow noopener">medium.com/@manastaking/u…

$USE Algorithmic Stablecoin Part 2: Building DeFi Together Dear Ergo community, It has been a few months since we launched @StableUSE stablecoin. So far, it has performed very well. It has maintained its peg to the dollar as intended, and the bank reserves have been holding up well. The time has come to move to the next phase. For the past few months, I have been working with a very talented team on a completely new DEX design on Cardano. The DEX is currently live and is called Shadowbook. @ShadowbookMM allows the creation of highly liquid trading pairs at a fraction of the cost typically required on traditional AMM DEXs. Currently, it supports multiple trading pairs such as NIGHT/ADA and ADA/USDCx. Shadowbook offers an excellent user experience, as all swaps on the DEX are atomic and executed immediately and settlement happens within the same block. With this development complete, we are ready to bring the best algorithmic stablecoin, $USE, to the best DEX, Shadowbook, and offer the best user experience imaginable. To bootstrap the initial DeFi setup, we need to gather initial liquidity. The efficiency of Shadowbook is 50 times higher compared to traditional AMM-based DEXs. To provide a solid trading experience, we are looking to collect starting liquidity in the event similar to CLB. Events details: There are 2 new community events planned: Event #1 is a CLB-type event to bootstrap stablecoin liquidity on BSC and Cardano. More details about this event can be found in a separate Medium post. Event #2 is a raffle donation event aimed at collecting 18,000 ERG to cover development and integration costs. We will proceed with the integrations if Event 1 reaches its minimum target and Event 2 successfully completes the fundraising goal. Integrations: All USE/USDCx collected during the event will be deployed as cross-chain liquidity on Cardano and Binance Smart Chain. In the case of the success of Events 1 and 2, the Ergo community will receive the following guaranteed integrations: 1 - CLMM pool on BSC (USE/USDT) 2 - Highly liquid trading pairs on Cardano: - USE/USDCx - ADA/USE - NIGHT/USE - rsERG/USDCx - rsERG/USDM - USDM/USE - ...and more For small and medium-sized trades, $USE will become one of the most liquid stablecoins on Cardano, competing and often surpassing $USDCx and other stablecoins. Yes, you are hearing it right — the bid-ask spread on the ADA/USE trading pair will likely be better than what existing Cardano stablecoins may offer. The above integrations open paths to: - $USE listing on one or multiple Cardano lending protocols -Direct purchase of $USE and $rsERG from a Coinbase wallet with $USDC via the usdcx bridge portal -Cross-chain stablecoin lending/borrowing arbitrage -Stablepool liquidity farming -Integration with Midnight ... and many more DeFI possibilities ERGO users have the ability to significantly expand Ergo DeFi suite with an industry top user experience

Algorithmic stablecoins with provable on-chain reserves are the future. USE, with its scalable design, is built for that future.

@IOHK_Charles explains “why USE”

$USE is now verified on @DexHunterIO & @TapTools

$USE is now mineable with StableMiner. Get stablecoins directly into your ERGO wallet

$ADA–$USE liquidity pool has been launched on Cardano Liquidity is currently limited, so please trade with caution and know your assumptions Cross-check the policy ID: ca769ee7ee7307ceff20508dbb01a873a5b3226f0a563a81912c67b5

$USE analytics page is now live. Track the progress of the protocol at cruxfinance.io/use-analytics

The first concentrated liquidity pool is live on BSC — enabling efficient $USE ↔ $USDT swaps

$USE is a third-generation, scalable algorithmic stablecoin, and we are going cross-chain

$USE is now tradable via the following UIs: dex.mewfinance.com ergfi.xyz (ticker: DexyUSD) More UIs and cross-chain support are coming soon

The first UI featuring $USE LP swaps is now live. More UIs, including Algorithmic Bank interactions, are coming soon

USE and Night are added into @RosenBridge_erg, pending watcher and guard update, then ui. A few miners reached out requesting Night integration. Looking forward to USE going live, Defi on Ergo is pretty unique as a variety of censorship resistant stablecoin frameworks are appearing. Pursuing programmable money without freeze and seize, which is inevitably leading to capture and control.

The CLB and bonus tokens airdrop has been distributed, and the temporary liquidity pool has been created. Protocol launch is very close. This is just the beginning of an exciting journey.

We are now entering the Airdrop Phase, which will last 24 hours. At a random time during this window, all contributors will receive their tokens. Deployment of $USE stablecoin protocol is ongoing, with several smart contracts already live on mainnet and more coming soon. Stay tuned for further updates

The launch event has ended. A total of 135 community members contributed a staggering 395,598.06 ERG to bootstrap liquidity for our new algorithmic stablecoin We are now entering a 72-hour deployment phase, during which we will continue deploying contracts, minting tokens, and calculating airdrops. Stay tuned for further announcements

With 1 hour to go, we’ve already reached our goal of becoming the most liquid stablecoin on ERGO. Contributions are still open, and anyone who sends funds in this final hour will be eligible for airdrops just like everyone else

With less than three hours to go, we’re almost at our goal, with 120 people participating in the launch event 🤯. Can we make it? clb.mewfinance.com