AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC.
DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification.
DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens.
DFD is the native token of the DefiDollar protocol and serves two primary functions, governance and as a protocol backstop in case of a black swan event.
The DeFiDollar team is also working on a range of additional utilities for the ecosystem, including synthetics, indices, and options products. The next product to be released by DefiDollar will be ibBTC, a BTC index launched in collaboration with Badger DAO.
DefiDollar brings together a team with exceptional experience, from Google to Y-Combinator backed startups and India’s first Crypto Unicorn – Polygon.
About AscendEX
Originally founded in 2018 as BitMax.io, AscendEx is a leading crypto and digital asset financial platform catering to both professional and retail traders. Our venue offers spot, futures, margin trading and staking products and incorporates key elements from the DeFi space to foster a unique market structure for users. AscendEx is led by a team of Wall Street veterans who have applied traditional markets’ rigor to create a robust, secure, and reliable experience for all participants; and a consistent source of liquidity for primary offerings.
DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi. DefiDollar brings together a team with exceptional experience from Google to Y-Combinator backed startups and India’s first Crypto Unicorn – Polygon.
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