Introducing CoreUSD in the CORE Ecosystem
CoreUSD is a stablecoin within the CORE ecosystem to enhance liquidity and utility.
Collateralization with CoreETH:
- CoreETH, locked within the CORE-LAYER protocol, acts as primary collateral for CoreUSD, ensuring stability and value preservation.
Core LST ETH Staking Node:
- Functionality: Users can lock ETH into a staking node (Core LST ETH) to validate transactions and earn rewards.
CoreUSD Minting:
- Mechanism: CoreUSD can be minted by locking Core LST ETH as collateral, offering users a stable store of value. Alternatively coreUSD can be redeemed for core ETH LST at a 1:1 at anytime.
- As more CoreUSD is minted, more Core LST ETH is locked, further enhancing the staking node strength.
Benefits:
- Native APY: Core LST ETH and CoreUSD generate native APY, fostering growth and liquidity.
- Enhanced Liquidity: CoreUSD provides liquidity, while Core LST ETH generates yield, creating synergy.
- Value Creation: Introduction of CoreUSD adds value and utility to the CORE ecosystem.
Potential Expansions:
- Locked CoreUSD: Introduce locked CoreUSD to increase voting power or yield within the ecosystem.
- Further Integration: Explore additional features like governance integration or cross-chain compatibility.
References: