The creation of a SUSHIO stablecoin provides the community of SUSHI holders an incentive to go long on SUSHI by giving them the ability to mint a stablecoin (redeemable against other stablecoins) using SUSHI as collateral, thereby allowing holders to employ their capital without selling any SUSHI holdings.
This is made possible via the collaboration between OpenDAO and UMA, and is part of ‘flagship’ series of stablecoins. Incentivised liquidity pools will need to be set up with SUSHI support to ensure liquidity against other major stables such as USDC. OpenDAO will operate and oversee the process.
OpenDAO adds SUSHI/USDC pair to UMA - Creates Mintable SUSHIO stablecoin. LP Incentives in the form of SUSHI - SUSHIO/USDC provided by SUSHI.
Provide SUSHI holders another powerful option for hedging - wider integration of DeFi space as a whole. Encourages synergistic market activity between UMA, SUSHI, and OpenDAO.
SUSHIO stable coin minter + Incentives.
Potential massive increase in TVL of SUSHI tokens - likely price appreciation. Integration handled by OpenDAO. Increases rewards to SUSHI holders.
More exclusive and isolated/controllable ecosystem. Near zero development time. Needs SUSHI as incentive in LP.
- Create the SUSHIO stablecoin
- Do not create the SUSHIO stablecoin