Modular blockchain project Elixir launches decentralized synthetic US dollar asset deUSD.

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Elixir, a modular blockchain project, has launched a decentralized synthetic dollar asset, deUSD, to challenge Ethena's USDe. It is reported that Elixir's deUSD uses stETH as collateral to short ETH in a delta-neutral position while providing additional income. Elixir claims that its deUSD does not rely on centralized parties and is transparent and flexible. In addition, Elixir has currently raised $1 billion in liquidity to support new tokens and has received support from DeFi platforms including Pendle. Elixir is expected to officially launch mainnet in September. (The Block)

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