List HUSD as collateral asset

Hello everyone, I want to share this proposal with the C.R.E.A.M. community, and I believe this can benefit the whole DeFi community.

Summary

List HUSD as collateral asset on C.R.E.A.M. Lending.

For: List HUSD as collateral asset Against: Do nothing

Background

Category: U.S. dollar backed stablecoin Issuer: Stable Universal limited Custodian: Paxos Trust Backed by: U.S. Dollar, 1:1 ratio Audit: Withum, monthly Year of Issuance: July, 2019 Smart Contract is here

HUSD is an ERC-20 token that is 1:1 ratio pegged with USD. It was issued by Stable Universal.

To ensure the 1:1 backing is maintained, monthly audits of HUSD are conducted by an independent US audit firm. The reports can be checked here

Source: HUSD official website

How to get HUSD Liquidity

• Official website of HUSD: 1:1 exchange between USD and HUSD , fiat on/off ramp
• Centralized Exchanges: Huobi, FTX, HBTC, Hotbit, Hoo
• Decentralized Exchanges: Curve, Uniswap, Mooniswap , 0x, kyber network, tokenlon
• DeFi Platforms: Fortube, YFII, 1inch, FYII (DFI.MONEY), BiDAO, HubDAO, MakerDao (green lighted)
• OTCs: Amber Group, Huobi OTC, Legend Trading, FTX OTC, Paxos

HUSD Marketcap Ranking

Around $270M marketcap source: https://cryptoslate.com/cryptos/stablecoin/

source: https://debank.com/ranking/stablecoin

Benefits for [C.R.E.A.M.] Community

More Diversify For the System

For Centralized stablecoins C.R.E.A.M. has supported, you can clear see the differences. By adding a new stablecoin asset with monthly auditing, regulated trust holding and different issuer, can lower down the sysmetic risk. Even one of the issuer gets any problem (regulation, compliance, business operation.....), people can still use other stablecoin asset on C.R.E.A.M.

Attract New Users For C.R.E.A.M.

As HUSD has users in both centralized world and defi community, which is quite different from what USDT/USDC has, it will brings C.R.E.A.M. more opportunities to landing new market.

Risk & Weakness

*The market cap and liquidity of HUSD is relatively lower than USDT, USDC and the liquidity is not good as USDT, USDC. so the Collateral Factor of HUSD should be set lower.

-----contents above are drafted by DeFiNavy----- Discussion link: https://forum.cream.finance/t/proposal-list-husd-as-collateral-asset