Hello Bitcointalk community!

I'm here with great news! The new version of Autonomous Secure Dollar was deployed on Arbitrum (12 March 2024). Now, the contract is immutable and has been audited by Hacken with a 9.3 score.

I'm so proud and excited! Please, do your own research, read more about us, and review the audit report.

All information and links were added at the beginning of this thread.

Emma, hello! Could you please create a trading pair with WBGL on Arbitrum Uniswap? Because we are planning to deploy a new version of USSD on Arbitrum as well.

Здравствуйте! Благодарим Вас за ценный отзыв. Стабильная монета USSD в связи с ее текущим низким уровнем капитализации и популярности не часто ребалансируется для поддержания привязки к $1.

Если Вы заметили, что цена отклоняется от $1, Вы можете воспользоваться функцией ребалансировки, чтобы вернуть ее к намеченной привязке. Исчерпывающую инструкцию по проведению ребалансировки можно найти в нашем руководстве [здесь] (https://zircon-neon-934.notion.site/How-to-do-Rebalance-of-USSD-BEP20-d774266160d84697be0a3f94ce835cb8?pvs=4).

Кроме того, мы активно работаем над решением, которое позволит обменивать 1 USSD на 1 DAI в любое время, независимо от текущей цены USSD, что обеспечит более стабильную работу.


Что касается структуры обеспечения, то мы знаем об опасениях по поводу использования wBGL в качестве части структуры обеспечения в связи с его модернизируемостью и централизацией. Уверяем вас, мы старательно работаем над архитектурными решениями для снижения этих рисков и повышения общей стабильности. Другими активами в обеспечении являются хорошо известные активы DAI (USDT в bep20), wBTC, cETH.

Hello! Thank you for your enthusiasm and input on improving liquidity. We appreciate your feedback and have taken it to heart. We're actively working on developing a smart contract that will ensure guaranteed interests for liquidity providers. This smart contract will enhance the transparency and security of our reward system. We're also exploring other reward-based initiatives that will be based on locked smart contracts to provide even more opportunities for our community. Your support and ideas are invaluable in shaping the future of USSD!

Здравствуйте,

При повторном просмотре кода приношу свои извинения за допущенную оплошность. Я оперативно исправлю этот раздел. Уточню, что функции, позволяющей команде заморозить токены для держателей токенов, не существует. Однако существует потенциальный риск с DAO: они могут под влиянием голосования нецелевым образом использовать залог, возможно даже причудливо решив потратить его на поездку на Мальдивы!

Original in English
Hello,

Upon reviewing the code again, I sincerely apologize for the oversight. I'll correct that section promptly. To clarify, there's no function that allows the team to freeze tokens for token holders. However, there is a potential risk with the DAO; they might be influenced to vote on misusing the collateral, perhaps even whimsically deciding to spend it on a trip to the Maldives!

Thank you so much for the kind words! Yes, we are progressing, albeit at a measured pace, with our primary focus on developing impeccable code. If you have any suggestions or ideas, please share them with us directly through messages or, better yet, drop us an email at hi@ussd.ai.

Currently, USSD is available on Uniswap and can be acquired using any coin, with a primary focus on DAI. While we might consider other popular coins in the future, our main attention is on DAI for now.

Indeed, the anonymity of our team may complicate listing on a CEX. Nevertheless, we're confident that DEXs can meet all our needs.

That's intriguing. We did reach out to CMC, but given our current market cap, we don't meet their criteria. Once we surpass $200k, we intend to list USSD properly.

Yes, our main liquidity pool will be paired with DAI, as USSD is currently pegged to DAI.

Our team is committed to crafting a resilient smart contract. We've recently completed a second audit with a renowned, albeit anonymous, smart contract firm due to KYC considerations. While more audits are on the horizon, we, like many in the crypto industry, cannot guarantee perpetual immunity from all potential threats.

Hello dear community!

USSD is our innovative stable coin, autonomous and backed 10x by crypto. Here are some quick guides for everyone:

1. Rebalance: Check out [How to do Rebalance of USSD](https://www.notion.so/f3100c59122e46e4bcb172f4247a6955?pvs=21). Rebalancing ensures that USSD's collateral remains stable, keeping its peg at 1 DAI.
2. Minting: Want to create new USSD using DAI? Here's the [Guide on How to Mint USSD for DAI](https://www.notion.so/0cffa2685b9349cfbe2901a54b00f2d0?pvs=21).
3. Liquidity: Discover [How to Add Liquidity to the USSD on Uniswap](https://www.notion.so/7f48410709e44335a18a268238a85f78?pvs=21). Boosting liquidity ensures smoother trades and lesser price slippage for everyone.

Let's work together to make USSD a success! 🚀🌍

Certainly! The audit report from the Sherlock team is publicly accessible for everyone to review. Here's the link https://github.com/sherlock-audit/2023-05-USSD-judging/issues. We are dedicated to transparency and have detailed how we addressed any issues identified in the report.


We appreciate your perspective. Our standpoint is rooted in the belief that genuine decentralization can only be realized by locking a contract. While DAOs can offer some advantages, they can also be susceptible to manipulation. It's the same for even major networks like Ethereum and Bitcoin. Our goal is to design an architecture that is both optimal and straightforward.



We understand the concern. Our commitment through savings is our token of dedication to the crypto community. If the USSD project resonates with the community's needs, we trust that users will champion it. We are confident in USSD's potential as a remarkably secure stablecoin. Its foundational principles of radical over-collateralization, complete autonomy, and resistance to bans lend it unparalleled value in our view.

Sure, I'll condense the answers and put the corresponding questions before them:

1. Could you elaborate on the scope and thoroughness of the Sherlock team's audit?
Sherlock's audit is renowned for its meticulous examination of smart contracts. Our code underwent a rigorous review, resulting in 900+ suggestions from 70+ Sherlocks. We're also preparing for another anonymous audit with a prominent auditor, in which we're implementing a three-iteration review system. Ensuring code safety is our priority, and we're open to further audits if necessary.

2. How will you manage the risks associated with BGL's small capitalization and deflationary nature?
We mitigate potential risks through diversified collateral - BGL, BTC, ETH, and DAI. This mix, combined with USSD's over-collateralization design, reduces single asset risk and buffers against extreme volatility. BGL's deflationary nature can potentially boost the collateral base as its value increases over time.

3. Will you elaborate the way of making governance decision? How are you going to face the governance voting manipulation?
We believe governance could weaken autonomy, so we plan no governance. Once we ensure the code is safe and optimally functioning, we will lock it up and make it non-upgradable. Thus, even if the founders disappear, the stable will continue to operate.

4. In a competitive stablecoin market, what strategy are you going to use for marketing?
Our strategy prioritizes user education about USSD's unique benefits. We will leverage influencers and social media to spread our vision and focus on attracting crypto-savvy individuals who value decentralization and distrust centralized authorities.

5. As a non-profit entity, how are you going to maintain the project's operational cost?
The USSD project will be supported by our savings and donations. Once the contract is non-upgradeable, operational costs will be negligible, with the community and users covering necessary expenses.

I'm here to answer any further questions you might have! 

Hey everyone! Exciting news! 

Our open-source USSD smart contract is getting an audit from the Sherlock team.

The lead senior Watson is WATCHPUG.

We start this Friday, May 19th at 15:00 UTC.

Want to check it out? Head over to https://app.sherlock.xyz/audits/contests/82 for all the details. Let's get this party started!

Collateral of USSD Stable coin contains 4 crypto assets in Ethereum Mainnet that will ensure maximum decentralization possible nowadays:



Such cryptoassets as WBTC and WETH will make collateralization ratio possible x2-x5 times. But we include a radical element in the collateral structure, namely the BGL (Bitgesell) coin, which is deflationary and has a small capitalization (at the time of writing). It was included in the collateral to overcome collateral fluctuations in the first period of USSD adoption and to increase collateral upside in the long run. Therefore 10x+ collateral ratio will be reached.

• 1. USSD cannot be frozen on anyone’s address, banned or blacklisted – by code.
• 2. The collateral stays visible on the smart contract and could not be accessed by anyone, except the redeem/rebalance logic in the code.
• 3. Code is 100% open-source.
• 4. Collateral doesn’t include:
  - short-term US treasures
  - cash in US banks
  - any cryptoassets that are directly connected to the financial insitutions.
• 5. USSD doesn’t have any intrinsic business tied with it, like borrowing/lending protocol, return on collateral investing. USSD is non-profit project.

USSD Stable coin aims to provide what the crypto community needs: freedom and safety.

Autonomous Secure Dollar (USSD) – is the project aimed to create a fully autonomous, decentralized and radically overcollateralized stablecoin (ERC20) pegged to USD.



The stablecoin architecture ensures the following features:

1. Extremely overcollateralized. USSD stablecoin is fully backed by decentralized crypto assets. Furthermore, the collateral to capitalization ratio of the USSD stable coin is aimed to be more then 10x.

2. Autonomous.

• the USSD stablecoin user can’t be frozen, blacklisted or banned by anyone;
• USSD collateral is not connected with financial institutions and physical world;
• simple architecture, smart-contract based – no reliance on any operating business, thus independent from any revenue stream risk (such as fees, lending/borrowing interest, etc.).

Comparison of USSD with other stablecoins



Project links:

• Whitepaper
• Twitter
• Website - ussd.ai. Site's under construction
• Github
• Email: hi@ussd.ai
• Telegram channel
• Telegram community chat
• Discord
• ERC20 wallet for donations: 0x2F59a0C2ec3403295D89127dc7335326fbaA0C26