JUSD - Jupiter stable coin

Jupiter DAO $JUP
1

$JUSD PROPOSAL

What if Jupiter created a stable coin $JUSD

Would you be interested? Would this be a game changer? Let me explain my proposal for this:

  1. JUP stable coin - $JUSD creation and implementation into the Jupiverse.

2.The ability to be able to also stake your $JUSD along side $JUP.

  1. The ability to be able to switch your $JUP in stake to $JUSD

  2. Benefits the community by protecting their asset value, whilst also still aquiring ASR.

  3. Less FUD on the 30 day unstaking period, keeping community members positive and engaged.

  4. Less likely people will unstake, with also the massive potential to onboard more users with this game changing mechanism.

  5. Expands the DeFi protocals that Jupiverse offers, helping boost the Jupiverse ecosystem.

  6. Fees collected through the stable coin can also go to the litterbox trust fund, boosting DAOs potential to decide later down the line what the funds can be used for, whether that be to reward or reinvest into the DAOs longevity and robustness.

Please share your thoughts on this proposal :folded_hands:

I think this proposal has huge potential if it can gain traction and attention of the team!

Love to all Jupiter community members :heart:

1 Like
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Stablecoin Idea is a good Idea but I don’t think team is looking into that aspect for now though they are couple of stablecoin doing good on solana chain as well. Stablecoin is another giant firm that requires total full team management because of deppeg.

1 Like
3

No they’re not looking to but maybe its something long term they can consider. Kash liked the idea but stated to me that too much risk backing a stable agaisnt a risk asset, which i can understand but i was thinking of not really backing them together but an option to switch whilst in stake, so you have your JUP in stake and flip it into the stable stake option if its possible

1 Like
4

It’s a good proposal to have native jupiverse stablecoin but it’s not easy to run stablecoin assets. What product or utilities did you think it could be peg on ?

3 Likes
5

I would peg it to other stables to maintain stability. I feel it would offer security to JUP holders who have tokens in stake if there was a mechanism to just have your jup staked and whilst its staked you have the ability by button to flip it into the JUSD whilst still remaining in stake to earn your ASR and in this moment it can earn JUP as yield paid from the litterbox as an example, this is a draft idea :light_bulb:

6

The yield would be dynamic to the price increase in JUP, im thinking there must be some logic to being able to make this work.

7

Tbh thinking about it there doesnt have to be a yield its more for holders bag protection, the button would act as essentially a sell and convert between JUP JUSD and JUSD to JUP

8

Then the litterbox essentially acts as a liquidity function to keep the conversion from JUSD to JUP, if users convert back in at a higher price then they receive less JUP back the left over tokens of JUP maybe converts from an escrow function back to the litterbox. If they convert back at a lower price and they should receive an increase in JUP tokens back the difference is paid out from the litterbox.

9

Only other thing I can think of is Jupiter doesn’t have to create a token they could use an established stable coin to operate this function

10

Then the proposal would be more for JUP staked security for user funds stabilisation

1 Like
11

Downside would be sell pressure though so maybe the idea becomes redundant without an escrow function, i’ll go away and think of this in more depth

12

i’m in favor of this