Following the successful launch of Euler on Base and as part of the protocol’s existing support of Sky assets on various Ethereum Mainnet markets, sUSDS and USDS should be considered as part of the Euler Base market.
USDS:
USDS, originating from the Sky/Maker ecosystem, is a stablecoin pegged 1:1 to the USD. It ensures low volatility for collateral and liquidity on EulerBase, backed by Maker’s established risk management practices.
SUSDS:
SUSDS builds on USDS by integrating a yield mechanism. It maintains the same USD peg while offering users the additional benefit of earning income through protocols within the Sky/Maker ecosystem.
Integration Specifics:
- Risk Management:
- Gauntlet will oversee risk parameters for both USDS and SUSDS, ensuring a secure integration into EulerBase.
- Oracle Feeds:
- USDS/USD: Utilizes the Chainlink oracle at address 0x847BD1550634c35Ea5d6528B0414e0BE69584010.
- SUSDS/USDS: Employs the Pyth oracle at address 0xBb6f24057732A3280D8AD02518E4C3744eB5E03e.
Summary:
The introduction of USDS and SUSDS to Euler Base will add two synergistic assets: one for stable value and another for enhanced stability with yield generation. This integration will broaden Euler Base’s offerings for collateral and liquidity, empowering users with both security and income opportunities.
Voting:
Given Euler’s recent move to an optimistic governance framework, no formal on or off-chain voting is currently required for this proposal to pass. However, we encourage the Euler DAO and community members to provide feedback, share suggestions, and voice their opinions on this initiative. Community input will, as always, be crucial to ensuring that Euler remains relevant, competitive, and risk-managed.