Here it is: the Peg Stability Module is now ready for use.
01 Aug 2022, 20:03
📢 Here it is: the Peg Stability Module is now ready for use📢
The PSM is a Hubble-native 1:1 swap between USDC and USDH, which allows arbitrageurs to trade with less friction🤝
Frictionless arbitrage means that USDH can return to peg with much more ease than if arbitrageurs had to swap with slippage on the market. We are confident that this will be a valuable mechanic for USDH Peg Stability.
Initially, the Parameters of the PSM are as follows:
Assets: USDH, USDC
Fees: 0% for minting USDH, 0.5% for burning USDH
USDC currently in PSM: $2M
PSM Page:
Here is our full overview of the PSM & what it entails for the protocol and USDH👇