JP-16 Open YUSD-USDT Market

High Level

Yeti Finance is a next-gen decentralized borrowing protocol built on Avalanche. This innovative protocol enables users to borrow up to 21x leverage against their entire portfolio of crypto assets, while continuing to earn the yield rewards generated from deposited assets.

Unlock deep liquidity, borrow at the lowest collateral ratios, and borrow against your entire portfolio to gain better protection against liquidations.

Specifications:

Listing on the Avalanche LB Market Token name: YUSD Contract ID: 0x111111111111ed1d73f860f57b2798b683f2d325 (https://snowtrace.io/token/0x111111111111ed1d73f860f57b2798b683f2d325) Coingecko: https://coinmarketcap.com/currencies/yusd-stablecoin/ Coinmarketcap: https://www.coingecko.com/en/coins/yusd-stablecoin Nomics: https://nomics.com/assets/yusd2-yusd-stablecoin

Token Summary:

YUSD is an over-collateralized stablecoin that is backed by a diverse basket of yield-bearing collateral deposited in the Yeti Finance protocol. A stablecoin must be secure and scalable. Yeti Finance has undergone four independent smart contracts audits, two economic analyses, and multiple independent peer reviews to ensure YUSD is a safe and secure currency. Directly Redeemable — Unlike most stablecoins, YUSD is directly redeemable by anyone holding YUSD. At any time, YUSD can redeemed for $1 in underlying collateral minus redemption fees giving it inherent value. Hard-Pegged — Due to YUSD’s hard arbitrage mechanisms, YUSD should always trade above $1.00 and below $1.02. Anything more or less presents a simple opportunity for arbitragers. Unlike MIM, this process is market-driven and does not rely on central actors to adjust interest-rates to incentivize users to payback loans.

Summary:

YUSD is a popular native stablecoin on Avalanche that has gained widespread adoption. It is currently listed on prominent exchanges like Kyber, Platypus, and Curve, making it easily accessible to users. YUSD is backed by a diverse set of yield-bearing assets, ensuring stability and security for its users. The safety and security of YUSD are of utmost importance, as the stablecoin is designed to provide a reliable and trustworthy alternative to traditional currencies.

Benefits to Trader Joe:

Enhance user experience by improving swap rates involving YUSD that inadvertently get traded on Trader Joe. Natural volume generation through arbitrage from various other DEX's. Additionally, there is potential for revenue generation for sJOE depositors with low risk stable-stable pairs. Finally, by including YUSD on Trader Joe, we create an additional route for trading sAVAX, the most widely adopted liquid staking token.