What is DEI?
DEI is an fractional reserve stablecoin, forked and inspired by frax.finance and can be used as a unit of account for derivative-based trading on protocols built on the DEUS infrastructure layer. Traders, Protocols and Market Makers utilizing and offering trading via DEUS v3 using $DEI as stablecoin will enjoy better Fee Structures, than when using $USDC.
DEI has a 100% minting ratio and 9% seignorage.
- 100% USDC is required to mint $DEI (ie. $1 USDC is required to mint 1 $DEI)
- On mint, 9% is used to buy back $DEUS and deposited into the DEI redemption contract
- On redemption, 9% is transferred out of the redemption contract. This figure adjusts constantly and can be viewed in the minter stats.