Just an ordinary stable coin? No way!
$LUSD in its final form will allow a number of stable coins to be swapped into, and out of, Lamden. In essence, it is a ‘bucket token’ which allows a number of approved stables to be bridged to Lamden under the one token name (LUSD), then if leaving Lamden repeat the process to bridge out.
Why is this interesting? Well my friends, where previously you might have spread your risk over a number of stable coins for the proverbial “shit hits the fan” scenario, $LUSD gives you that flexibility in a single token.
When finalized, $LUSD will accept $USDT, $USDC, and $DAI as a 1:1 swap for deposits. When withdrawing, you can take your $LUSD and swap back for any available stable 1:1.
Additionally, it will accept any mix of stables into $LUSD, then any mix of stable coins on the way back out — ultimate flexibility!
The world about to end? Look no further than $LUSD! You might have swapped in $USDT for $LUSD, but should, for example, $USDT and $DAI collapse, simply withdraw to $USDC instead.
$LUSD is available on Rocketswap — https://rocketswap.exchange/#/swap/con_lusd_lst001
This is a recent addition to Rocketswap so liquidity is still growing in the pool — swap smartly and be aware of your slippage.
Just another exciting addition to the Lamden Blockchain ecosystem.
