CUSD: Empowering the ecosystem
This article will reflect our ideas for CUSD and how to advance it through each stage.
There are already hundreds of stablecoins emerging, each with a distinct goal. Coin98 Dollar is the same. This article will reflect our ideas for CUSD and how to advance it through each stage.
Liquidity is a prerequisite not only for cryptocurrency and blockchain projects but also for any financial markets. Users frequently move among different blockchains with significant demand for asset transfers rather than remaining on one permanent platform, which leads to fragmented liquidity in the market.
Given its current firm design of fully backed by BUSD & USDC, CUSD is outlined to grow liquidity and become the driver providing seamless cross-chain liquidity experience to global-scale users.
On Ethereum, BNB Smart Chain, and Solana, we’ve launched the multichain farming programs on 3 DEXs, including KyberSwap, Baryon, and Saros. Since then, the market capitalization of the Coin98 Dollar has steadily risen to around $900,000. Although it is a modest sum, it represents our attentive approach to gradually growing CUSD liquidity.
In the initial phase, we realize the power to communicate with new Defi partners and identify prospective chances to promote CUSD in the DeFi surroundings. We will specifically concentrate on farming, staking, and trading operations across several blockchains. If you get interested in CUSD, please do not hesitate to contact us at cusd@coin98.finance.
In the next phase, Coin98 Dollar will accompany other products in the ecosystem to advance its strength. Firstly, the creation of SpaceGate will revitalize the entire ecosystem and create more use cases for CUSD.
In case you're holding ETH (ERC20) and wish to have BNB (BEP20). In the usual way, you need to sell ETH (ERC20) for a stablecoin (such as CUSD, USDT, BUSD, or USDC), then transfer the stablecoin on Ethereum to BNB Smart Chain. After that, use the stablecoin to purchase BNB as you desire to receive BNB (BEP20) in your wallet.
The objective of SpaceGate is to make the cumbersome asset transfer process less onerous. You don't need to be too bothered with the intermediate steps if all you want is to go from ETH (ERC20) to BNB (BEP20). All additional tasks will be carried out via SpaceGate's backend, and CUSD will participate in this operation via transferring value.
In addition, SuperLink, the ultimate affiliated liquidity aggregation protocol that increases the power of liquidity to the associated platforms, is another forthcoming product connected to CUSD.
CUSD will flow to every component of a product and has a strong connection to decentralization. It involves Saros (a unified suite of Defi products on Solana), Baryon (the trusted DEX on BNB Smart Chain), and Coin98 Wallet. We are looking forward to seeing how CUSD will enrich other puzzle-piece of products within the whole Coin98 Ecosystem big picture.
Ultimately, as a part of the stablecoin sector, CUSD is passionate about contributing to the growth of the enormous DeFi space.
About Coin98 Dollar
Coin98 Dollar, aka CUSD, is a fully-backed stablecoin that aims to become a cross-chain unit of account that fulfills the demand for cross-chain liquidity in DeFi.
CUSD brings up an ambitious, long-term mission. To achieve that, our initiative is to build a strong foundation of use cases for CUSD within the Coin98 Ecosystem, first by centering CUSD as the default medium of exchange across all products built by Coin98 Finance. In the long run, CUSD will expand into other DeFi ecosystems in the multi-chain world.
