What is Prisma mkUSD (MKUSD)?

MKUSD is a decentralized stablecoin, fully collateralized by liquid staking tokens. It is part of the Prisma decentralized borrowing protocol. The protocol is non-custodial, immutable, and censorship-resistant, focusing on the utilization of Ethereum liquid staking tokens (LSTs). MKUSD is designed to provide a stable and secure option within the volatile cryptocurrency market.

What is Prisma mkUSD (MKUSD) used for?

MKUSD offers a mechanism for users to mint a stablecoin by depositing specific liquid staking tokens in a vault. If the collateral ratio falls below a certain threshold (120%), the vault is subject to liquidation. This process is managed by a stability pool that oversees the liquidated debt and distributes collateral to providers. The minted MKUSD can then be used on other DeFi platforms or exchanged back for liquid-staking tokens. This system offers users a versatile and secure way to engage with the broader DeFi ecosystem.

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MKUSD	ERC20	ETH	0x4591dbff62656e7859afe5e45f6f47d3669fbb28	2023-08-30