Introduction
Introducing SUSD, an overcollateralized stablecoin that will launch soon on Reserve Protocol designed to be an index of the best USD stablecoins trusted sources.
Making it an USD RToken where the yield comes mainly from T-Bills and others trusted low-risk
sources(like tokenised carry trade strategy), providing a one-click investment solution on multiple strategies making it a passive juicy overcollateralised yield bearing asset. This RToken’s goal is to provide a passive saving solution for everyone, making it omnichain in the future and integrated everywhere. One of the main goal of this one is to permit people with low access to the banking system to have access to a simple and secured saving solution for their dollars permitting them to fight against inflation hoping for a better futur.
In this RFC I will give you an overview of SUSD. I highly encourage the community to ask questions and share their suggestions. I’d also appreciate any help I can get in growing the RToken - if you want to help bring this product to success, please do reach out to me on twitter : @SavingUSD or on email : skewness.outlier@gmail.com
Mandate
What is the mandate?
Hold SUSD without paying attention and generate passive comfy high secured yield on your dollar savings.
Why is that the mandate?
I think that’s the final purpose of DeFi, bringing to normal people products that they can understand and use without any complications.
Deployer
Who is the deployer?
I’m Skewness Outlier, just a cat with a coffee and a croissant lost in the DeFi rabbit hole while maybe making friends and some bucks along the way.
Why did I decide to deploy the RToken?
I recently discovered Reserve protocol and I think I fell in love. Overcollateralisation through RSR staking is truly innovative and life changing. When I watched the main video of RSR where they present the protocol and Ugly Cash, a tear nearly fell from my eyes. It’s truly beautiful that DeFi has a real utility and help people in need of banking services by bringing them the best experience they could have. So I said myself “hey ! I want to be part of the revolution too !” So I’m here creating this one, this one have two main goals :
- Provide a weapon to fight against inflation to people that have a low access to banking services.
- Be recognised accross DeFi as a safe and useful way to put your USD to work.
What’s in it for me?
For me there are various advantages. First I will have, for my USD, the best yield tool I believe to put them at work, because I am building the tool I wish I had earlier. Secondly, I would maybe be able to generate a revenue to scale SUSD making it a real company thanks to the value it’ll bring to the ecosystem and the expansion of the financial freedom it will offers. That’s what we call in game theory a “Nash Equilibrium”, it represents a situation in which each participant in a game makes the best decision possible, given the decisions of the others. In other words, no player has an incentive to unilaterally change their strategy if the strategies of the other players remain unchanged. In simpler terms, a Nash equilibrium occurs when each player’s strategy is optimal, given what the other players are doing, and no player can improve their outcome by changing their strategy unilaterally. It’s a state of balance where each player’s strategy is a best response to the strategies chosen by the others. But how does this apply to SUSD ? Basically if we look at sDAI or sFRAX, they have no incentives to expand the usecases and the surface playground of their respective staked stablecoin. It’s because sDAI and sFRAX are perceived as an expense to keep buying pressure on their respective stablecoins. Here, thanks to the performance fees going to the deployer address, the deployer is directly incentivise to expand as much as possible usecases and surface playground of its RToken, here SUSD. Thirdly SUSD is a public good created to make DeFi a better place, so many opportunities will result from SUSD.
Collateral Asset Backing
What does the initial collateral backing for this RToken look like?
- 1/3(~33,33%) sDAI
- 1/3(~33,33%) sFRAX
- 1/3(~33,33%) sUSDe
Why was this collateral backing chosen?
These 3 assets permit to tap into the most solid and deep yielding USD of DeFi, because money
isn’t provided on a money market like AAVE, it’s always liquid and takes a lot less risks. Funds on AAVE are already exposed to sDAI and soon sUSDe, but they are also exposed to wBTC, eETH, CRV etc… here it brings purity and better yields.
Should governance keep the collateral backing as it is or update it whenever it can?
Collaterals backing SUSD are subject to change to adapt them as new opportunities present themselves and as micro and macro conditions might change drastically.
What is the estimated APY with the initial collateral backing?
At the time of the writing of this sentence, apy would be 16%. Estimated apy on the futur would be a little lower because sFRAX yield don’t scale really well(for now), but sUSDe yield should be higher.
Revenue Distribution
What will the initial revenue distribution look like?
- 80% - RToken holders
- 10% - Deployer address
- 10% - RSR Stakers (governance and overcollateralization)
Why was this particular distribution chosen?
The distribution was choosed to be the most efficient possible, following the Pareto’s principle, 80% of the underlyings will be distributed to the RToken holders while the other 20% will ensure its governance, overcollateralisation, incentives and integrations accross the DeFi landscape.
The yield directed towards RSR stakers will serve as a purpose of overcollateralisation for security of the RToken while voting for the futur direction of this one through governance.
The revenue going to the deployer address will serve for :
- Help the token liquidity and expansion by incentives, when onboarding on a new chain for example, so the token will be autonomous by self-sustaining itself without any needs to rely on Reserve incentivization helping or any other incentivization campaign.
- Paying myself for the work I put on that project thus guaranteeing integrations, diverse partnerships and supervising health of SUSD in general.
- Helping massive scaling of this RToken through hiring different people working for this token, first a community manager, then devs powering integrations and writting RFC, then a head of growth for managing integration with fintech companies as they will be more and more present in web3, but this is really a long-term goal not realisable very soon.
Product Differentiation
How does this RToken differ from competitors?
- Others RTokens have a chance to be illiquid because they rely on AAVE market, here it doesn’t rely on a money market’s liquidity
- SUSD will profit from a deep liquidity on-chain thanks to the on-chain liquidity of assets backing it.
- SUSD is set to be integrated everywhere providing a lot of opportunities of usecases.
- Its permissionless mint and redeem ensures a permissionless entry and exit that won’t leave LP’s stranded
- I.e. no waiting for borrowers to want to repay their loans
- Dynamic basket management by RSR stakers, who are incentivized to manage it properly.
- RSR default protection up to a certain amount.
Why will people use this RToken?
- Fintech company that want a pre-built saving product for their customers.
- Leveraging SUSD yield thanks to money markets futur integrations
- Earns competitive market rates without having to choose between different sources, it’s already blended here !
- RSR overcollateralisation puts a protection on your yield
- Because underlying assets are managed by governance, no need to worry about assets management, hold and chill
Go To Market
Who do you see as the early adopters and advocates of this RToken?
- Fintech company that want a pre-built saving product for their customers.
- People that just want easy yield without any effort.
- DeFi degens wanting to leverage SUSD yield thanks to money market integrations.
- Protocol like money markets or trading protocol that want to integrate SUSD.
- RSR stakers who believe in the project.
Community members are invited to create novel strategies and tactics to raise awareness for SUSD and improve its positive impact on the wider crypto community. If you have go-to-market ideas and would like to contribute please leave comments and suggestions.
What does success look like for this RToken?
An omnichain, liquid, secured yield bearing asset used everywhere by everyone.
Branding
Why was this RToken name chosen?
Saving USD is enough explicit for telling its inherent purpose and what people can expect from it.
What does the logo look like?
Why was this logo chosen?
The yellow S of the logo represent the word “Saving” while the other represents the dollar logo, the green part represent the color of money and the white circle is for graphic purpose. So the name of this RToken is directly integrated on the logo itself. Simple and effective.
What does the brand represent?
The brand is the voice of little bagholders that can now have access to reliable, sustainable, secure and high yield. It’s the symbol of unified crosschain yield. It’s the tool for massive onboarding of retails into the web3 and its opportunities; it’s the ultimate yield bearing asset for whales preserving their “to be deployed capital”. It’s the emergence of new DeFi paradigm thanks to Reserve functionnalities.
Call To Action
What is expected from the RToken’s governors?
- I expect RToken governors to see the vision of SUSD and align themselves with the continued success of SUSD through preserving its value and yield distribution parameters.
- I expect Rtoken governors to be reactive in case of emergency by doing wise decisions and preserving its security all along thourgh folding back collaterals into robust assets like LUSD for example.
What can the community do to make this RToken a success?
- Get involved! If you ever wanted to be “early” to a project, now’s the time!
- If you want integrations don’t hesitate to help me writting the RFC for the protocol you want SUSD integrated to. And the beauty of DeFi is that ou don’t even need me to integrate SUSD to your favorite protocol.
- Please share any thoughts you have about this RToken in the comments below.
, I wish you the best guys. I hope to see more news from you soon 
.