The sUSD represents the synthetic token of the US dollar, and this makes it an interesting and attractive currency because its value is equivalent to the value of the dollar currency. Experts have pointed out that sUSD (formerly nUSD) is the stablecoin in the Havven network, and has been created to solve the constant fluctuations in prices that represent a major problem in the blockchain ecosystem, through a decentralized and scalable proposal. . It is a stable alcoin that operates on the Ethereum platform, with a good market capitalization and is in the 128 range in the global cryptocurrency rating.
This currency is generated through the Synthetix protocol, through an underlying such as its native SNX token, all this is done through a Smart contract that is signed with the authorization of the wallet you use. This protocol allows its users to exchange or create new Synths without depending on counterparties, create and trade synthetic asset tokens, thus solving the liquidity problems that are frequently experienced in some Exchanges, this is achieved through a process of Coining with cryptocurrencies when depositing the SNX token as proof of participation (staking), which is the equivalent of a financial instrument called a secured loan used by traditional banks, the investment made is taken as debt, because when supplying your tokens, generates a collateralization index that fluctuates according to market gains or losses.
To carry out this process, people who are interested in it must buy the native SNX token and subsequently generate the sUSD by minting synthetic tokens (Synths), through the Mintr platform, leaving a certain amount of SNX tokens in deposit / stake. The SNX token will act as collateral, in a relationship of 750% (collateralization ratio), to be able to mint the Synths, the minting of the maximum amount for a staker that has SNX worth $ 750, will result in the issuance of sUSD for value of $ 100. In this process, assets are blocked as collateral for the debt so that the reserves are in custody and this reduces the risks of fraud or theft within the ecosystem, for this and many reasons many experts assure that the sUSD and synthetic currencies It is one of the most complex and useful financial products on the Ethereum network to date, and by keeping in development it is hoped that its updates can offer more and better benefits.