deUSD ("decentralized US Dollar") is a fully collateralized synthetic dollar powered by the Elixir Network. Minted by stETH and sDAI, deposited collateral will be used to short ETH, creating a delta neutral position.
Through leveraging this funding rate basis trade on Ethereum, the Elixir network creates a synthetic dollar capturing positive funding rates. Even in a negative funding rate environment however, deUSD is built to be resilient.
Elixir deUSD Price Analysis
As of November 24 2024 Elixir deUSD has a marketcap of $161M.
This is {{percentagefromath}} from its all time high of $1.023.
In terms of its tokenomics, there's a total supply of 161M with 100% currently outstanding.
Keep in mind Elixir deUSD has a fully diluted value of $161M which many investors might interpret as overvalued.
Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.
Summarized in part by ChatGPT 4 and Claude
