[AddToken] wstUSR on MAINNET #967
Description
Network
MAINNET
Token Symbol
wstUSR
Token Name
Wrapped stUSR
Decimals
18
Address
0x1202F5C7b4B9E47a1A484E8B270be34dbbC75055
Image URL
https://drive.google.com/file/d/1SQwj6_dSzlgzsry-SW8JgahOJMjc67iI/view?usp=sharing
Reason
stUSR has a wrapper token, wstUSR. It is a non-rebasing version of staked USR, the value of which accrues over time from staking rewards.
Resolv USR (USR) stands out as a stablecoin uniquely backed by a combination of Ether (ETH) and staked ETH. Developed by Resolv Labs, USR is fully backed on-chain, ensuring transparency and security. Unlike traditional stablecoins pegged to fiat currencies, USR maintains its value through a delta-neutral strategy, where the ETH spot price changes are offset by short perpetual futures positions, resulting in a stable net value.
The Resolv protocol features the issuance and redemption of USR against other tokens, maintaining sufficient ETH backing at all times. This is achieved through the Resolv Liquidity Pool (RLP), a liquid insurance pool designed to keep USR overcollateralized. Users can mint and redeem both USR and RLP on a 1:1 basis with the deposited collateral.
One of the key advantages of USR is its market-neutrality, which ensures stability regardless of ETH price fluctuations. Additionally, USR operates independently from fiat currencies, reducing counterparty risk. The protocol's capital efficiency allows for minting $1 worth of USR or RLP with $1 worth of assets, eliminating the need for overcollateralization.
The insurance layer provided by RLP adds an extra layer of security, making USR a robust stablecoin option. The treasury's profitable business model, which includes staking and earning funding fees on futures positions, further enhances the stability and growth potential of USR.
https://coinmarketcap.com/currencies/resolv-usr/
https://resolv.xyz/