Roadmap
Last updated
Last updated
Given the unique and complex nature of the USD.AI offering, the protocol growth is planned out in 3 stages, which give users time to get up to speed with novel financial mechanisms and allows for a measured and conservative growth of the corresponding loan book collateral, ensuring tight diligence and compliance requirements are met. Below outlines the end state goal of USD.AI, as well as each of the 3 phases of progressive development.
The focus of Stage 1 is on aggregating deep secondary market liquidity, with a simple and understandable collateral base - US T Bills. During Stage 1, only yield bearing stablecoins (e.g. M^0's M token) will be available as collateral, for both USDai and sUSDai, with sUSDai earning all yield generated from the underlying treasuries. Stage 1 focus is on capital accumulation and DeFi integrations (oracles, AMMs, lending protocols, etc), and will begin to establish the ecosystem support for USD.AI.
Stage 2 will open up support for MetaStreet LCTs as backing for sUSDai. Initial target pools include:
Tactical Compute
During Stage 2, new pools / new collateral types will be added slowly, with the majority of backing still coming primarily from T Bills. Underwriter performance will heavily impact sizing and allocation of sUSDai to different asset bases.
Stage 3 introduces USD.AI's governance token for full protocol and collateral approval process decentralization. With the introduction of the governance token comes a protocol level insurance fund designed to protect sUSDai holders from potential drawdowns as a result of possible loan impairments, as well as gaugeweighted approval process for new collateral onboarding and QEV for redemption of sUSDai.
