Review on sUSD by Inioluwa Okedeji
sUSD: A Stable Token Supported By The Ethereum Blockchain Network
sUSD is a stable digital currency that was designed and developed by Synthetix to track the price (both rise and fall) of the US dollar. sUSD token is a stable digital currency and like other stable digital currencies, it's price is equal to the US dollar.
So basically, sUSD is a tokenized form of USDT and also this will be the first time I will be encountering a stable token, that is a decentralized finance (Defi) based project equal to the US dollar. Also, sUSD is an ERC 20 token which makes it a stable token supported by the ethereum blockchain network
Since one sUSD token is equal to one US dollar, users can easily convert sUSD tokens into US dollars without any complexities whatsoever.
In addition to the benefits of holding this token, users of the Synthetix exchange (the developers of the sUSD) can buy tokens that will help them gain experience and access to the operations in the cryptocurrency world and not only that but also in the Forex market either.y
Pros
- sUSD tokens allows users to gain liquidity in both the cryptocurrency and forex market.
- sUSD is easily convertible to the US dollar and it's price will always be equal to the price of the dollar
- sUSD token is supported by the ethereum blockchain network
- It gives users the exposure needed to become a professional in the the cryptocurrency market.
Cons
- sUSD tokens are only traded on very few cryptocurrency exchanges.
