Phantom to release v2 of fUSD ── v1 is liquidated | coindesk JAPAN | Coindesk Japan

Fantom, a platform that brings smart contract technology to market, plans to introduce version 2 of its fUSD stablecoin to provide builders, partners and users with a predictable and budget-friendly system. the developer said in a post over the weekend. A release date has not been revealed.

The new version will allow stakeholders to predict costs based on usage by allocating fees in either Phantom (FTM) or fUSD, the developers said. This will allow programmers to build additional products for their users and provide a more consistent system.

A stablecoin is a token pegged to a fiat currency, such as the US dollar, often backed by a token or basket of other tokens.

Phantom users can use FTM to mint fUSD and access decentralized finance (DeFi) applications such as lending, trading and borrowing built on the system. With the move to the new version, positions equal to or greater than FTM backed by fUSD debt will be liquidated. Liquidations occur when traders lack funds to continue leveraged trading.

fUSD migration & liquidations https://t.co/vj4UAagaoX

—Andre Cronje (@AndreCronjeTech) January 29, 2023

To help users close their positions, Phantom has built a swap tool that allows users to swap the stablecoin DAI to fUSD and settle their outstanding debts.

｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Image: Shutterstock
｜Original: Fantom Blockchain to Release Version 2 of fUSD Stablecoin