Add DSD support to borrow and lend on AAVE
Dynamic Set Dollar:
DSD is arguably the fastest growing algorithmic stablecoin launched to date. DSD has a current market capatalization of $141.92 million & $38 million in “total” liquidity. The volume since inception (under two months) has exceeded $362,297,846.54 at the time of this writing.
The osculating design of the Dynamic Set Dollar protocol used to return it to the peg of $1.00 makes it an excellent candidate to be used as a colletral asset in all of decentralized finance.
Despite The DSD comminuity growing every day and millions being invested via options in the form of coupons; DSD is not a collateral asset on any defi money market protocols.
DSD is a decentralized algorithmic self-stabilizing and censorship-resistant stablecoin without any collateral backing. Oracle-driven pricing for voluntary supply elasticity is used without having to trust third-parties. When valued over $1.00, the supply ramps up into expansion up to 10%. If the price falls bellow the peg of $1.00, mechanics incentivise Investors to burn supply.
The goal of DSD is to create a truly permissionless, scaleable, stable store of value, that can be used as collateral in various decentralized finance platforms.
Total Liquidity: $38,687,432
Token Supply: 141,915,031.35
Coupons (Options): 80,780,000
With the explosion of growth in the DSD community, sheer trading volume & consecutive days/weeks trending on popular cryptocurrency websites such as dextools and coingecko, DSD would add significant TVL to AAVE. DSD would also bring additional users to the AAVE Platform.
Integrating DSD into AAVE would further legitimize DSD as an algorithmic stablecoin and store of value.
DSD token contract: https://etherscan.io/token/0xBD2F0Cd039E0BFcf88901C98c0bFAc5ab27566e3