Should we have a stablecoin vault who takes advantage of arb opportunities, and create as a by-product a new Stabilize-stablecoin?
It is suggested to create a pool which accepts all stablecoins, and in which the stablecoins are automatically traded against each other via curve to scalp the price difference between them.
In detail, the swapping of stablecoins may be done by a human operator, but strict conditions are set by the protocol. This would have the advantage that the operator can still consider if it's wise to swap in case of a black swan event or extreme market conditions, e.g. when one of the stablecoins is collapsing or the like. But in principle the trading may also be done by the protocol itself at a later stage.
Users deposit once a stablecoin, and the protocol empowers a human operator to swap the deposited stabelcoins against each other when certain conditions are met, mainly price levels. From high to low price. In this way, the protocol itself captures the value which lies in the stabilization itself, the price difference, and that value flows into STBZ.
This would be very convenient for the users since the protocol does all the work in a professional way, and the size of the deposit does not affect the yield.
How may it work in detail:
Users deposit any stablecoin, and get in return zUSD priced in real USD (defined by chainlink price oracle at the moment of deposit). When the strategy is winning (scalping the price deviation of the stablecoins) the gains are flowing 100% into the treasury & STBZ staking. The pool thereby rebalances back to the initial USD value of all deposits after each trade, and keep the intrinsic value of 1zUSD at 1USD.
Depositors receive STBZ rewards from the arb-trading stablecoin pool as long as they hold zUSD in the wallet.
Additionally, depositors may also supply the zUSD together with STBZ into a new STBZ/zUSD pool on Uniswap, to farm much higher STBZ rewards and trading fees as LP provider. This pool may share STBZ rewards with ETH/STBZ pool (allocation defined by total pool value).
When the user exits zUSD and redeem the USD value from the arb-pool, he may withdraw any stablecoins which are in the possession of the pool at that moment. Fees may be applied when exiting, which are eather dependent on price and/or the balance of the certain stabelcoins in the pool.