Introduction

Elixir is a high-throughput network powering exchange-based use cases, acting as the primary source of orderbook liquidity on six exchanges and powering deUSD – DeFi’s native yield-bearing dollar.

deUSD serves as the rails for institutional assets to access DeFi. Used exclusively by Securitize, deUSD is the default currency bringing on-chain composability for BlackRock, Hamilton Lane, and others. deUSD is natively yield bearing, earning from a mixture of treasuries and funding yield, and will serve as preferred collateral for orderbook exchanges.

deUSD also is the backing asset for ecosystem-native stablecoins and related products including Sei Network’s native stablecoin (fastUSD) and Reya Network’s stablecoin liquidity vault. Other upcoming deUSD backing additions will include Movement’s moveUSD (100% wrapped sdeUSD), and Plume’s stable asset vault.

Motivation

Elixir’s deUSD has garnered support from both retail and institutional investors, with ~$100M of onchain liquidity and $220M+ of TVL just months after launching. Institutions have expressed significant interest in adding both deUSD and its yield-bearing staked version (sdeUSD) to the lend/borrow markets on Compound - we estimate that more than $30M in deUSD from institutional holders would be deposited within the first week.

Staked deUSD’s native yield ranges weekly from 10% to 30%+ APY (not including additional Elixir potion incentives) – making this an attractive market for Compound users.

Forum discussion

1/ https://www.comp.xyz/t/temp-check-onboard-deusd-sdeusd-on-compound-v3-mainnet/6844 2/ https://www.comp.xyz/t/add-collateral-deusd-sdeusd-staked-on-usdc-usds-usdt-on-mainnet/6112

Risks & Audit

1/ https://www.comp.xyz/t/add-collateral-deusd-sdeusd-staked-on-usdc-usds-usdt-on-mainnet/6112/6 2/ https://www.comp.xyz/t/deusd-and-sdeusd-asset-assessment/6767

https://snapshot.org/#/comp-vote.eth/proposal/0x555b204cbabdfc3cb6a42ea53b194ba0ae3b0eca3da9eb9b163ee73f2a817175