To stabilize the token, Ubiquity will be implementing a collateral system, where the total uAD circulation will be capped as a function of dollar pegged stables which the project holds in its treasury.
The accepted collateral is only Liquity’s LUSD to begin, but we will add more as needed such as Synthetix’s sUSD. We are keen on conservative stablecoins with maximized censorship resistance.
- To mint new Ubiquity Dollars, you must deposit LUSD in our minting contract.
- At the time of writing, we have not implemented our planned “zap-in” user experience, which abstracts away needing to acquire LUSD.
- The amount of uAD minted is based on the current TWAP of LUSD. There is a 0.5% mint fee.