Review on sUSD by Olugbenga Ajayi
SUSD a decentralized payment solution in the offing
Susd is an acronym for synthetic USD. It is a token based on the ethereum block chain, an erc-20 token. The project behind it is Synthetix which is a crypto project launched in 2018 as a defi that can be used to create SNX and also for tracking all assets created on the synthetic platform.
susd was founded by Kain Warwick and as at the time of this review the project already has eemployees above 50. The ICO took place in 2018 during which $30million was raised.
The project will bring about a large tokenized market on the ethereum block chain. Users will be able to stake suds and earn staking reward. As at the time of this review, sUSD is already being traded on binance and a few exchanges. As a stabilized token which is pegged to 1 USD, it will be a good token Option to maintain a good store of value for our monetary asset.
However let's not forget that every new project need time to achieve it's target, patience is needed to benefit fully from this project.
Pros
- It will give a boom to dapps on ethereum network
- It will provide an easy access to a wide range of financial products
- It is secure and transaction fee is fair
- It is a good means of storing the value of ones don't digital assets
Cons
- It is yet a new project
- It is traded on a few exchange
