A proposal to add Zytara USD (ZUSD) as a Metapool paired with the 3pool
Zytara USD (ZUSD) is a stablecoin fully collateralized by US Dollars and independently attested live on-chain. The ERC20 token uses third-party issuance and attestations to reduce counterparty risk, provide transparency, and prevent fraud.
Unlike most of the current stablecoins, ZUSD is specifically focused on being the stablecoin for gamers, a community measured in billions of people and growing. The esports industry doesn’t have a 24/7 instant global payment network, and the esports prize money market ($540M by 2022*) has difficulty disbursing prize monies to minors/winners around the world.
ZUSD was launched in December and is listed on BiKi (https://www.biki.com/en_US/noticeInfo/4160), with more listings already in progress. Dignitas has announced an exclusive partnership with Zytara for payments, with other teams in progress for similar announcements. The liquidity expected will be proportionally large compared with crypto applications simply due to the size of the gaming market.
ZUSD will grow significantly in 2021, and investors are currently interested in holding it. Providing a means of generating yield through the proposed pool will allow investors to maintain larger holdings of ZUSD and stake them on Curve, generating more fees and incentives to the Curve protocol. Curve will be one of the earliest to reach an entirely new market currently un-served by the DeFi world or crypto in general.
ZUSD has regular attestations of dollars held in escrow. These attestations are independently facilitated by top accounting firm Cohen & Co. The first one is in progress and should be published within this week.
A liquidity incentive program will be launched on Wednesday, further growing the size of the ZUSD community. (https://medium.com/digitalbitsorg/xdb-liquidity-program-update-9d137c8192da)