Partnership with USDLR by Stable

DIA collaborates with Stable to launch a collateral-based price oracle for the USDLR stablecoin on Arbiturm. The oracle is already instrumental for the Sperax platform to mint its stablecoin, USDs.

Partnership with USDLR by Stable

What is USDLR

USDLR is a fiat-backed stablecoin issued by Stable that shares revenue with companies and protocols that distribute it. Pegged to the U.S. dollar and 100% backed by cashand cash equivalents in regulated financial institutions, it facilitates holding, transfer, trading, and DeFi activities.

USDLR reserves are stored in two places: cash and USDC are stored with BitGo, and treasury bills are stored with the investment manager, Zerocap. Weekly, third-party attestations are provided by NAV Consulting and published here.

Distinguished by weekly third-party attestations and a business model incentivizing affiliates, USDLR represents a fusion of stablecoin utility and affiliate growth potential.

USDLR Chooses DIA to Launch USDLR Oracle

We are delighted to announce the collaboration with Stable to launch a custom price oracle for the USDLR stablecoin. The oracle, deployed in the Arbitrum network, will enable the integration and secure usage of the stablecoin in DeFi activities.

It has been a pleasure working with the DIA team to build out our Arbitrum oracle. This oracle helps unlock the Stable team distribute USDLR through DeFi protocols that rely on price feeds such as crypto-collateralized stablecoins and perpetuals futures exchanges.
Headshot of David Lee, Co-Founder of Stable (USDLR)
David Lee
Co-Founder of Stable

How is the USDLR Oracle Built?

Due to the nature of the stablecoin, which is built with collateral comprised of USDC, cash, and T-bill reserves, DIA has developed a collateral ratio-driven price feed for USDLR. This methodology, instead of focusing on the market price of the asset, assesses the collateral reserves of USDLR in real time to price the asset. It involves a variety of real-time on-chain and off-chain data, including the total supply of USDLR and collateral reserves from the asset manager, among others.

This approach will enable DIA to secure a pivotal move for USDLR, utilizing a fully transparent methodology that accounts for the asset’s collateralization. Learn more about this methodology in USDLR’s Custom Delivery Request on the DIA Forum.

Sperax Integrates USDLR Oracle by DIA

The oracle has already been integrated with and is powering several dApps. For example, the USDLR oracle will be instrumental for the Sperax platform to mint its stablecoin, USDs, using USDLR as collateral.

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