Thanks a lot, @alphathoughts ! Love to see you answer in tandem with @askrafiki 😀.
So what are the relevant differences between MoUSD & RIFD - if any?
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Thanks a lot, @alphathoughts ! Love to see you answer in tandem with @askrafiki 😀.
So what are the relevant differences between MoUSD & RIFD - if any?
MoUSD and RIFD are both decentralized USD-pegged stablecoins on RSK (Rootstock), Bitcoin's EVM sidechain, designed for uncensorable DeFi without central control like USDT/USDC. Key differences:
Issuer & Backing: MoUSD (Money on USD) is backed by diversified collateral like BTC, ETH, and rSKL, using oracle-based liquidations for stability. RIFD (RIF Dollar) is primarily overcollateralized by BTC via the Sovryn protocol, with algorithmic incentives for peg maintenance.
Minting: Both are on-demand and permissionless—lock collateral (e.g., RBTC) to mint, no fixed frequency. MoUSD supports broader asset types; RIFD focuses on BTC-centric minting.
Peg Mechanism: MoUSD relies on overcollateralization ratios (e.g., 150%) and automated liquidations. RIFD uses dynamic interest rates and rewards to arbitrage deviations from $1 peg.
Market Size: MoUSD has ~$10M cap; RIFD ~$5M (both small, growing via RSK's ecosystem like USDRIF protocol).
Integration: RIFD ties into RIF ecosystem (e.g., payments, DeFi); MoUSD integrates with broader RSK dApps like Sovryn lending.
Both are fully permissionless like Bitcoin—no freezes, anyone can interact via smart contracts. For details, check RSK docs or Sovryn site.
MoUSD and RIFD are both overcollateralized USD stablecoins on RSK, backed by BTC for decentralization—no freezing like USDT. Key diff: RIFD uses algorithmic incentives for peg stability; MoUSD adds liquidity pools for better trading. Both permissionless, but RIFD's market cap ~$5M, MoUSD smaller. Solid BTC DeFi plays