⚖️ dfxStablecoins
DFX will be creating a set of stablecoins that are hyper-efficient to open up the ecosystem of hybrid stablecoins. These hybrid stablecoins will be majority collateralized by fiat-backed stablecoins of the same currency as well as a minority amount of DFX tokens.
In the onset, we will launch with our first stablecoin dfxCAD which is a hybrid stablecoin for the Canadian dollar. dfxCAD will start off at 95% collateralized by it's fiat-backed counterpart, CADC and 5% DFX tokens. Based on the peg of dfxCAD, the smart contract can change the collateralization ratio by up to 1% per day. If dfxCAD is trading at a premium, the collateralization ratio of CADC will be decreased. If dfxCAD is trading at a negative premium, the collateralization ratio will be increased.
The lower the collateralization ratio is for the stablecoin, the more efficient it becomes as it requires less of the fiat-backed stablecoin to exist, providing higher utility for the stablecoin.
To produce a robust ecosystem for these stablecoins, UniswapV3 and Curve pools will be deployed between the hybrid stablecoin and the fiat-backed stablecoin to create efficient markets for supply and demand. These markets determine the price of dfxStablecoins and ensure the peg is in order.
Incentives will be provided to those that mint dfxStablecoins within the Curve community to ensure healthy supply of the stablecoin and provide utility to the dfxStablecoin and the DFX token.

Contracts

Contract (Ethereum Mainnet)
Address
DFX
0x888888435FDe8e7d4c54cAb67f206e4199454c60
CADC
0xcaDC0acd4B445166f12d2C07EAc6E2544FbE2Eef
USDC
0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48
dfxCAD
0xFE32747d0251BA92bcb80b6D16C8257eCF25AB1C
dfxCAD Proxy
0x0d574a5442AFF3Ff5d995b2d630A9eB150740c71
dfxCAD / CADC Curve Pool
0x9CA41a2DaB3CEE15308998868ca644e2e3be5C59
dfxCAD / CADC Staking Rewards
0xd6Bf24685e1754b24cFbB4277B07a4A28E9d0Da7
CADC / USDC DFX Curve
0xa6c0cbcaebd93ad3c6c94412ec06aaa37870216d
dfxCAD / CADC TWAP
0x5172ADF501cbC4118Ebcb240cC0F95C87BF858BC
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Contracts