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Overnight
Question
cryptoHugo
@voz64fish · Oct 20, 2023, 20:52
Why does USD+ increase just by holding it?
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Comments (1)
reddigy
@gpe75fish · Oct 20, 2023, 21:12
USD+ is a rebase token, designed to peg its value to that of USDC. If there's a discrepancy between the values of USD+ and USDC, the supply of USD+ adjusts by increasing or decreasing to stabilize the price so that 1 USD+ maintains equal value to 1 USDC.
Additionally, USD+ operates across various chains, attempting to enhance its value through various DeFi platforms. For example, on the Op Chain, it's operational through platforms like Sonne, Velodrome, and Pika.
Therefore, as profits are realized from these DeFi activities, the supply of USD+ increases. For instance, if you hold 100 USD+, your holdings might passively increase to 102 USD+ due to the profits generated through DeFi strategies. Since the value of USD+ is pegged at 1 USDC, this means the worth, in this case, would increase from 100 USDC to 102 USDC.
Additionally, USD+ operates across various chains, attempting to enhance its value through various DeFi platforms. For example, on the Op Chain, it's operational through platforms like Sonne, Velodrome, and Pika.
Therefore, as profits are realized from these DeFi activities, the supply of USD+ increases. For instance, if you hold 100 USD+, your holdings might passively increase to 102 USD+ due to the profits generated through DeFi strategies. Since the value of USD+ is pegged at 1 USDC, this means the worth, in this case, would increase from 100 USDC to 102 USDC.
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