DAM Finance Documentation
  • DAM Finance Documentation
  • Concepts
    • d2o
    • dReservoir
    • dGuardian
  • Guides
    • Obtaining d2o
    • Teleporting d2o
    • Using d2o
    • Redeeming d2o
  • Technical
    • Contracts
    • Omni-chain credit token
    • Interchain messaging
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On this page
  • Overview
  • Peg stability
  • Fees
  • Deployments
  • Secondary Markets for d2o
  1. Concepts

d2o

About the d2o stablecoin

Overview

d2o is an omnichain stablecoin designed to be worth approximately $1 per token which aims to act as a liquidity pipe - bringing liquidity form places where it is abundant to places where it is needed.

d2o is initially backed 1:1 with existing stablecoins, starting with native USDC on Ethereum.

d2o has two key attributes:

  1. Anyone holding d2o can claim the underlying collateral (e.g. USDC) by burning d2o on Ethereum. This is critical for maintaining the d2o peg as if the price deviates from $1, there is an easy arbitrage opportunity possible by minting or burning d2o.

  2. d2o has built-in functionality for uses to move it between blockchain networks. Moving d2o from one blockchain to another is as easy to carry out as a regular transaction. d2o can be teleported as a native asset to other sovereign blockchains through the decentralized dReservoir protocol, starting with Moonbeam.

Peg stability

As of DAM v1.0, there exists a Curve stableswap pool on Moonbeam between xcUSDT and d2o. The pool is to provide liquidity for d2o holders to obtain other tokens or for abritrageurs to by and sell d2o.

If the price of d2o falls below $1, then because d2o is redeemable for $1, it becomes profitable for arbitrageurs to obtain d2o on the secondary market, teleport it back to Ethereum and redeem it for $1.

If the price of d2o rises above $1, it becomes profitable to sell d2o for USDT in the secondary market.

Fees

Currently, there is a 25 bps (0.25%) fee chargable upon redemption of d2o.

Deployments

Currently d2o is deployed on Ethereum and Moonbeam. The contracts addresses are listed below:

We are currently working on deploying d2o to other networks.

Secondary Markets for d2o

On Moonbeam:

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Last updated 1 year ago

Ethereum:

Moonbeam:

Astar:

d2o <> xcUSDT () on Curve Finance:

0x2FdA8c6783Aa36BeD645baD28a4cDC8769dCD252
0xc806B0600cbAfA0B197562a9F7e3B9856866E9bF
0xc806B0600cbAfA0B197562a9F7e3B9856866E9bF
0xFFFFFFfFea09FB06d082fd1275CD48b191cbCD1d
0xff6dd348e6eecea2d81d4194b60c5157cd9e64f4