Proposal: Add Support for HUSD stablecoin

Hi All,

I notice that GUSD is applying for on boarding AAVE, so I am here to submit a proposal for adding support for stablecoin HUSD on AAVE. Since I am doing the same thing in DMM community.

Some info About HUSD:

Issuer: Stable Universal limited
Custodian: Paxos Trust
Backed by: U.S. Dollar, 1:1 ratio
Audit: Withum, monthly
Year of Issuance:July,2019

Twitter:https://twitter.com/Stablecoin_HUSD
Official Website:https://www.stcoins.com/
Attestation Reports: https://www.stcoins.com/attestation/index

Liquidity:
official website of HUSD: 1:1 exchange between USD and HUSD

1:1 exchange with PAX on Paxos and Huobi official website

CEXs: Huobi Global,FTX, Hotbit. HBTC, Hoo …
DEXs: Tokenlon, Kyber Network, Uniswap (in default list)

by the way, MakerDAO community has passed green light stage for adding HUSD as a new collectral, let’s see what will happen next.

Benefits for Aave:

Diversification of AAVE users: as the observation, most of the HUSD traders are large institutional traders, AAVE can provide competitive interest rate for them and attract more asset to locate on AAVE

More fiat on/off ramp choices: it seems that HUSD has advantages in Asia Pacific market, it will benifit users from those countries

Data of HUSD:
Stablecoin Ranking: #7
Circulating Marketcap: 132 million
Accumulated issuance: 2 billion
Trading Volume (24 hours): $ 20 million
Data Center:https://www.stcoins.com/data

Maybe someone will say " HUSD? I never heard of it." I believe, in crypto world, we should always be ready to meet new comers. Few weeks or months ago, we don’t have CRV, YFI, YFII, YAM or sushi. But now we all know them. Who knows what will happen next, right?

3 Likes

Thanks for submiting this proposal.

Just to update a news about HUSD, HUSD is now supported by NEXO.

Both CeFi and DeFi is important for stablecoins, so still hope AAVE community / team can add HUSD as an new asset on AAVE.

Thanks.

1 Like

HUSD is on Curve.fi now.

A good stablecoin choice for AAVE to support.

Dfi.money protocol(a.k.a YFII) has supported HUSD today.

Looks like HUSD goes well now.