2024-12-20 21:37 |
dTRINITY, a subsidized stablecoin lending protocol in DeFi is proud to announce its mainnet debut on the Fraxtal L2 network.
dTRINITY is a lending protocol with yield-backed subsidies for stablecoin loans. The protocol aims to lower borrowing expenses and improve overall yields for stablecoin users. dTRINITY creates an ideal platform for stablecoin lenders, borrowers, liquidity providers, and yield loopers.
According to the dTRINITY team, the decision to launch on Fraxtal was a strategic move to achieve optimal ecosystem liquidity and user incentives. Now live on Fraxtal L2, dTRINITY consists of 3 core primitives inspired by Frax’s DeFi Trinity framework, including a lending and borrowing protocol, a decentralized stablecoin, and a DEX liquidity pool.
At the core of the protocol is the dTRINITY USD (dUSD), a decentralized and full reserve stablecoin. dUSD is backed by an on-chain reserve of other USD-denominated stablecoins and yieldcoins. dUSD is based on the ERC-20 standard, with each $ dUSD being backed by at least $1 of collateral. dUSD later serves as unified liquidity between its money markets and external liquidity pools. dUSD’s can be minted permissionless through smart contracts with no fees, including gas fees.
The dUSD reserve’s Net Asset Value (NAV) and mint ratio per collateral asset are determined based on each asset proceeds feed through the AP13 oracle. Notably, the exogenic yield from the reserve is redirected to fund ongoing interest rebates for dUSD borrowers on dLEND. This is done based on a borrower’s outstanding debts. Generally, this design aims to reduce the effective borrowing cost to improve user interactions. Currently, dUSD will be used natively on the Ethereum and Fraxtal L2 networks in Q4 of 024. Expansion to other chains will commence in 2025.
Other key features of dTRINITY include a subsidized Interest Rate Model designed to lower the equilibrium cost of stablecoin borrowing on dLEND. This feature achieves this goal without affecting users’ lending yields.
dTRINITY also offers liquidity incentives to dUSD lenders and liquidity providers. Through its strategic partnerships, the protocol offers a combination of protocol rewards and external incentives. dUSD lenders and liquid providers will earn point rewards for supplying liquidity to the protocol. All accumulated points will then be converted to dTRINITY’s governance token (TRIN).
dTRINITY will also enjoy a secure platform that follows the protocol’s risk management system. So far, dTRINITY has completed smart contract audits with three leading blockchain security firms: Verichains, Halborn, and Cyberscope. In addition, dTRINITY has formed strategic partnerships with other DeFi to help further its cause.
The project began its development in Q2 of 2024. Despite this, dTRINITY secured 1st place at both Fraxtal and ETHVietnam Hackathons earlier this year.
For more information, visit the dTRINITY website.
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