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eggman 🔵
@eggman.eth
Chalk one up for the "because we can" gang USDO, Nova's dogecoin-backed stablecoin has now held the $1 peg for 229 days so far. It remains over-collateralized by 261.565%; and until recently, stood as the *only* stablecoin available on Dogechain (bridged usdc & usdt arriving back in!) USDO serves more as a technical showcase than anything else, as its inherent "safety first" mechanics makes it very difficult to grow in liquidity. However, the protocol itself has stood through some deeply turbulent times in the market without breaking a sweat. More importantly, USDO can function with *any* protocol - turning any token at all into a fully-fledged, and fully decentralized stablecoin.
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pentacle
@pentacle
/microsub tip: 57 $DEGEN
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