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"LUSD has gained the trust of the DeFi community by being a truly decentralized stable currency that does not require a central governing body to ensure sufficient reserves to back the price.LUSD plays an important role in DeFi through algorithmic stabilization, stakes, PCV protocols and yields. "
Stablecoins are a type of cryptocurrency that aim to maintain a stable value.
Lite (LITE) and LiteUSD (LUSD) are two native tokens of the Binance Smart Chain, a blockchain-based project developed by LiteUSD team.
LUSD is the most popular among them and tracks the price of US dollars whereby one LUSD token hovers closely around the $1 mark. It achieves its peg to the dollar through the use of the ecosystem’s other token, Lite.
LiteUSD team has built DeFi related infrastructure such as Swap platform, bridges, digital currency wallets, public blockchains, etc. in the blockchain field and has rich technical and market experience with team members from all over the world. In the past two years we have shifted our focus to the development of decentralized algorithmic stablecoin ecosystem and have achieved certain results in technical and economic models.
Staking LUSD is an application of the LITE network that allows LUSD holders to earn industry-leading annual yields if they deposit tokens into the platform. Staking LUSD works like a regular bank account, where users can earn income by saving: pledgers receive return earnings from LUSD transfer fees as well as from treasury contracts.
PCV is one of the more important concepts in the LUSD protocol, and one of the most obvious use cases for PCV is to allow the LUSD protocol to be a liquidity provider (LP) for automated market makers (AMMs) such as various types of SWAPs. With sufficient trading volume, the protocol would essentially control the exchange rate of the trading pair. It can use its PCV to act as a counterparty to the market to rebalance prices and can lock in or burn excess tokens.
No doubt! Binance Smart Chain is the best, with the most star projects, the most DeFi users, the cheapest gas fee, and the fastest transaction speed. In the Binance smart chain to facilitate future access to the EVM ecosystem for more development space