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Introduction to Elena protocol - Elena
Elena
Introduction to Elena protocol
We are introducing Elena Protocol and USE Stablecoin. The goal of USE is to peg to 1 USD. In the Genesis period, we will use DAI as collateral, 1 USE is 100% backe...
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Protocol Design - Elena
Elena
Protocol Design
As shown in the chart below, Elena protocol includes the following core units: USE Stablecoin, Oasis Vault, PCV, USE Pools, Staking, Incentive, ELENA Governance Token, and DAO.
U...
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Risk - Elena
Elena
Risk
Off Peg
The key point of whether USE can peg to 1 DAI is if arbitrage works. If when the price USE deviates from 1 DAI, if there is enough room for profit. This requires the vault to have e...
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The improvements of ELENA - Elena
Elena
1. The speed of returning to $1 is very fast
2. Distribute profits to participants, increase participation and transaction volume, and make the market more active
Disadvantage
N/A
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Governance - Elena
Elena
Governance
The governance for a fair launch project is crucial. We use ELENA as governance tokens, the holders of ELENA are able to participate in the governance. The total supply of ELENA is 1,...
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Fees - Elena
Elena
Fees
Compare with Frax, which charges up to 0.45% for minting and redeeming, USE charges 0 fees for both activities.