USE-ElenaUSDDetailed Description

USE-ElenaUSD Detailed Description

USE is managed by Elena, supported by Oasis Vault, and regulated by the PCV protocol. USE tokens are ERC20 tokens with an unlimited supply, adjusted by market demand. USE, as a stablecoin, can be used for different use cases, namely exchange, store of value, synthetic asset, lending, yield aggregator, etc.
The goal of USE is to be pegged to $1. During the creation period, USE is collateralized by DAI, and 1 USE is 100% backed by 1 DAI.