Asymmetry and Ampleforth Launch afUSD Stablecoin Aimed at Decentralizing Market

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As a seasoned crypto investor with a strong background in decentralized finance (DeFi), I’m excited about the recent collaboration between Asymmetry Finance, Ampleforth, and Paid Network to launch afUSD. This innovative stablecoin is poised to compete with more centralized options like Ethena, offering high yields, scalability, and protection from market volatility while maintaining decentralization and security.

Expert: Asymmetry Finance has teamed up with Ampleforth and Paid Network to introduce afUSD, a groundbreaking stablecoin. Different from traditional stablecoins which rely on backing collateral like currencies, afUSD is constructed on Ampleforth’s infrastructure and boasts a distinctive mechanism. This innovative mechanism adjusts the supply of afUSD to regulate its price.

afUSD Expected to Compete with Ethena

afUSD is designed to be an alternative to more centralized stablecoins like Ethena. It was created to offer high yields and scalability and also have features that protect it from market volatility while at the same time ensuring decentralization and security. Since this new stablecoin won’t depend on collateral, it will use rotating AMPL tranches to ensure scalability and stability within the system.

Hannah Jojo, the founder of Asymmetry Finance, elaborated on their objective to enhance the role of synthetic dollars in the Decentralized Finance (DeFi) ecosystem. They aim to achieve this by providing DeFi-compliant solutions that can rival more centralized platforms, such as Ethana, which she implies are predominantly managed by the affluent. She expressed it as:

As an analyst, I’m proud of our achievement in creating the top marketplace for staking CVX in a liquid form. Moving forward, my focus is on enhancing our synthetic dollar market and providing a more decentralized DeFi alternative compared to competitors like Ethena. The world of DeFi has evolved into an arena where investors dominate, and we aim to disrupt this trend towards plutocracy.

“The anticipated return on investment for afUSD in its early stages is projected to reach a impressive 35.4%. Furthermore, it aspires to challenge the dominance of the existing $3 trillion stablecoin market.”

The two procedures used in developing this product aim to coincide in creating Defi offerings that are both sustainable and user-centric. Ampleforth’s co-founder, Evan Kuo, is thrilled about the collaboration with Asymmetry and looks forward to continuing such partnerships for groundbreaking solutions.

“Asymmetry is blazing a trail by establishing new financial markets from the expanding collection of locked-in assets within DeFi. This represents a vast opportunity, and we’re thrilled to be part of their team. We’re eager to work closely with their ecosystem to drive further advancements in this sector.”

Asymmetry has previously implemented a comparable approach with success. Their introduction of the afCVX liquid staking product for Convex led to over $1 billion being locked in just its first week. The company intends to broaden its Liquid Restaking Token (LRT) and Liquid Staking Token (LST) offerings by launching afeETH for Ether later this year.

Partnership with Asymmetry

Asymmetry teamed up with Paid Network, recognizing the significant impact of the protocol’s innovation on the stablecoin sector. This alliance with Paid Network is projected to grant their community access to over $1.5 million worth of ASF tokens on June 12. Justin Chevalier, Paid Network’s manager, expressed optimism about this collaboration, stating:

“We’re thrilled to be among the first to make Asymmetry Finance publicly accessible and contribute significantly to this emerging DeFi sensation. Our conviction that Asymmetry Finance will revolutionize the stablecoin sector is unwavering. The focus on distributing a large portion of their tokens to users harks back to the values that defined our industry’s beginnings.”

To date, Asymmetry has secured over $4 million in investments from backers, using this funds to bring their plans to fruition. The company’s website also functions as an educational platform regarding their offerings, allowing potential investors to explore the initial investment pool via Paid Network.

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2024-06-12 13:43