Use YUSD as collateral on WOO X for spot margin & perpetual trading
YUSD is a Bitcoin-backed, yield-generating stablecoin introduced by Aegis, designed to combine the stability of a digital dollar with the growth potential of Bitcoin.
Now integrated on WOO X, YUSD can be used as collateral for spot margin and perpetual trading, offering traders a versatile asset to enhance their trading strategies. WOO X is the first centralized exchange allowing users to use YUSD as collateral for their trades.
Bitcoin-backed stablecoin
Aegis is a blockchain-based platform that issues YUSD, focusing on providing a secure and transparent stablecoin backed by Bitcoin holdings, with built-in yield generation to deliver ongoing value to holders.
YUSD currently holds a market cap of $34.2m that reflects its growing adoption. It can be swapped conveniently on WOO X’s trading platform at the YUSD/USDT pair.
Users can effortlessly manage their YUSD collateral directly from their WOO X account, streamlining margin trading and collateral management within a unified platform.
Note that a 5% haircut is applied on the total amount of YUSD held as collateral. For example, holding YUSD 100 will be considered as equivalent to USDT 95 for collateral purposes, ensuring prudent risk management.
Trading modes & collateral management
WOO X users can select the trading mode they prefer and easily switch between Spot Only, Spot & Margin and Spot & Futures. These options are available from the Trading mode panel.
Additionally, different margin modes are also available and users have the choice between Cross margin and Isolated margin.
Lastly, WOO X users benefit from a collateral management setting directly accessible through your account then clicking on the ‘’Manage collateral’’ button.
For more information about collateral management on WOO X, visit the dedicated page here.
FAQ
Q: What makes YUSD different from other stablecoins?
A: YUSD stands out as a Bitcoin-backed stablecoin that combines the stability of a dollar-pegged asset with the growth potential of Bitcoin collateral. Unlike typical fiat-backed stablecoins, YUSD is secured by Bitcoin reserves managed by Aegis, adding a layer of decentralized asset backing.
Q: How can I buy, swap, or mint YUSD and are there any KYC requirements?
A: YUSD can be bought on WOO X, where it can be traded under the YUSD/USDT pair. Users need to complete standard KYC (Know Your Customer) verification.
Q: Can I use YUSD outside of WOO X, and what ecosystems support it?
A: YUSD is designed for interoperability and can be used across multiple DeFi platforms and exchanges that support the token. Users benefit from yield opportunities, trading, and payments in a variety of ecosystems beyond WOO X, increasing liquidity and utility for YUSD holders.
Q: Will I receive a yield if I'm holding YUSD on my WOO X account?
A: This feature will be live later this year.
Disclaimer
The information provided in this article is for general informational purposes only and does not constitute financial, investment, legal advice or professional advice of any kind. While we have made every effort to ensure that the information contained herein is accurate and up-to-date, we make no guarantees as to its completeness or accuracy. The content is based on information available at the time of writing and may be subject to change.
Cryptocurrencies and related products involve significant risk and may not be suitable for all investors. The value of digital currencies and products for which digital currencies are the underlying assets can be extremely volatile, and you should carefully consider your investment objectives, level of experience, and risk appetite before participating in any staking or investment activities.
We strongly recommend that you seek independent advice from a qualified professional before making any investment or financial decisions related to cryptocurrencies and related products. We shall in NO case be liable for any loss or damage arising directly or indirectly from the use of or reliance on the information contained in this article.
