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fUSD v3

A Fuse native stablecoin
The latest upgrade to our Fuse native stablecoin, addresses the challenges of liquidity fragmentation and systemic risks associated with stablecoins. It is a USD-pegged token backed by the two most popular stablecoins by volume: USDT v2 and USDC v2.

Technical Innovations in Minting/redeeming

  • Dynamic Weight System: The pool now operates with a minimum of 10% and a maximum of 65% for either underlying asset.
  • Pool Equilibrium: To ensure stability, minting/redeeming rates consider the pool weights. Transactions that risk unbalancing the pool will not be processed.

Migrate to fUSD v3 (fUSD v2 Holders)

The migration process from fUSD v2 to fUSD v3 is straightforward:
  1. 1.
    Remove any existing liquidity from fUSD v2 or pools involving fUSD v2.
  2. 2.
    Swap USDT v1 and USDC v1 for their v2 counterparts.
  3. 3.
    Add liquidity to fUSD v3 with USDC v2 and USDT v2 in the newly flexible ratio.

Minting fUSD v3

Tutorial

Minting fUSD v3 offers more flexibility compared to the previous version:
  • Single Mint: Get fUSD v3 by minting it with either USDC v2 or USDT v2.
  • Multi Mint: Provide USDC v2 and USDT v2 to mint fUSD v3. The updated process allows for different amounts of each asset.

Redeeming fUSD v3

Redeeming fUSD involves exchanging fUSD for an equivalent amount of underlying pool assets (USDC v2 or USDT v2) or both.
When users interact with the pool, the system automatically checks for equilibrium within these set parameters. If a redeeming transaction threatens to disrupt the pool's balance, it won't be processed, and the UI will prompt the user to adjust their asset ratio.
For instance, the transaction will be halted if a user wants to redeem fUSD for USDC but the pool's current USDC allocation is already at the 65% maximum. The user will then need to adjust their redemption request, perhaps by opting for USDT v2 or modifying the USDC v2 amount to align with the pool's current parameters.

Redeeming Tutorial

  1. 1.
    Navigate to the Redemption page:
    • Visit the Voltage Finance mint page on the DEX.
  2. 2.
    Connect Your Wallet:
    • Click on ‘Connect Wallet’ at the top of the page.
    • Select your wallet (e.g., MetaMask, Volt App..)
    • Make sure you are connected to the Fuse Network.
  3. 3.
    Choose Redemption Assets:
    • Click on the redeem tab and click on v3.
    • Choose between USDC v2, USDT v2, or a combination of both as the asset(s) you want in exchange.
  4. 4.
    Enter Redemption Amount:
    • Input the amount of fUSD you wish to redeem.
  5. 5.
    System Check for Pool Equilibrium:
    • The system will automatically check if your transaction aligns with the pool's balance.
    • If the transaction risks disrupting the pool's balance, such as if you request USDC v2 but its allocation in the pool is already at the 65% maximum, your transaction will be rejected.
  6. 6.
    Adjusting Your Transaction:
    • If prompted, adjust your redemption request.
    • You may need to opt for USDT v2 or modify the USDC v2 amount to fit the pool's current allocations.
  7. 7.
    Confirm the Transaction:
    • Once your transaction complies with the pool's parameters, confirm the redemption.
    • Approve the transaction in your wallet.
  8. 8.
    Transaction Completion:
    • Upon successful transaction, the equivalent amount of USDC v2 or USDT v2 will be transferred to your wallet.
    • You can check your wallet balance to confirm the receipt of the assets.

Farming Pool

fUSD v3 Holders can provide liquidity to the dedicated single-asset farm to earn rewards paid out in WFuse.

Farming Tutorial

Here’s how you can participate:
  1. 1.
    Visit the Farming Pool:
  2. 2.
    Connect Your Wallet:
    • Click the ‘Connect Wallet’ button in the top right corner.
    • Choose and connect your wallet (e.g., MetaMask, Trust Wallet) to the Fuse Network.
  3. 3.
    Locate the fUSD Farm:
    • Scroll to find the fUSD v3 farm.
  4. 4.
    Deposit Your fUSD:
    • Click ‘Deposit’ in the fUSD v3 farm.
    • Enter the amount of fUSD you wish to deposit.
  5. 5.
    Confirm the Transaction:
    • Check the transaction details.
    • Confirm it in your wallet, ensuring you have enough Fuse for fees.
  6. 6.
    Monitor Your Rewards:
    • Keep track of your rewards in the 'My Farms' tab.
    • Watch as your rewards accumulate, thanks to both farm rewards and swap fees.
Note: Remember, engaging in DeFi activities comes with inherent risks. Ensure you're fully informed and comfortable with these risks before you begin. Happy farming, and enjoy the enhanced rewards!

Governance

The DAO retains the authority to modify:
  • Swap fees
  • Redemption fees
  • Pool weights

Depeg Protocol

In case of a depeg event, the isolateAsset function isolates the affected asset, putting the pool in depeg mode. This restricts swapping and adding liquidity, permitting only the withdrawal of balanced liquidity for security reasons.

Stability and Growth Outlook

With its enhanced flexibility and user-centric features, fUSD v3 is poised for growth, offering a stable and adaptable option in the volatile crypto market. The new version is designed to attract a broader audience and increase the number of fUSD holders.

Contracts and audits

For transparency and trust, here are the contracts:
  • fUSD v3 Contract: 0xCE86a1cf3cFf48139598De6bf9B1dF2E0f79F86F
  • Audit