LOOPStarter Stablecoin

Overview

With the current size of the crypto market we expect at least $180B worth of stablecoins in circulation in 2022, mainly centralized in USDT/BUSD. We need new options and alternatives available to move on the mass scale, but as progressive as DAI in terms of security. LOOPStarter will provide grants to companies and teams for developing a decentralized, scalable synthetic stablecoin for the LOOPStarter Ecosystem. This particular grant is allocated for new protocols offering scalable stablecoins on the Multi-chain.

Description

For this grant, applicants can choose to develop a brand-new synthetic stablecoin or leverage any open-source code that is available and build a LOOPStarter version of their stablecoin, such as DAI or Syntetix USD. One individual or team will be selected to win this grant. LOOPStarter will offer technical and business support to the chosen grantee.

Scope

A running network that is ready to become a basic currency in the LOOPStarter ecosystem and kept stable through a framework of aligned financial incentives. The economic model for the stablecoin, a self-service credit facility or the Oracle model, which are open-sourced for the community to use and build upon. Various risk management mechanisms to manage collateral debt positions, risks, auctions, governance, etc. with automation, efficiency, liquidity, capitalization and ultimately enhanced stability. On-chain governance with progressive decentralization from the founding team steering the ship to council governance and democracy with referendums. Network SDKs: to empower the developer community to build upon and integrate with the LOOPStarter. Interface for minting and burning stablecoin.

How to apply

Please send your application to [email protected] We welcome all feedback, discussion and suggestions