In Brief:
- Ohmzeus released a new protocol that facilitates stablecoin swaps without price curves.
- “Range Pools” are used, in which both tokens of a pool are equal in value.
- At the moment, six live pools are available for DAI, LUSD, FRAX, USDC, USDT, and MIM.
A developer for OlympusDAO, Ohmzeus, has released a new protocol that facilitates stable coin swaps without price curves.
It has been announced that Ohmzeus, developer of OlympusDAO, has launched an experimental project dubbed Range that consists of decentralized stablecoin pools with no price curve. What the programmer describes as Range is an “optimistic stablecoin swap protocol.”
“Range Pools” are used, in which both tokens of a pool are equal in value.
At the moment, six live pools are available for DAI, LUSD, FRAX, USDC, USDT, and MIM, though it should be noted that these are unaudited and users should not deposit more than they can afford to lose.
In Discord, it was announced deposits to the USDC/USDT pool had been suspended due to a decimal place error.
Each token trades within a predefined range in the protocol. Stablecoin’s price parity appears to offer arbitrage opportunities to users since stablecoins seldom trade at the exact same price on decentralized and centralized exchanges.
In addition to one-to-one swaps, low gas fees, and capital efficiency, Ohmzeus claimed the system has a number of advantages over trading stablecoins on traditional automated exchanges.
