Decentralized stablecoins ecosystem to unify the stablecoins market
Cement DAO is a platform that unifies the stable coin’s ecosystem and solves the problems of the fragmented ecosystem where there are more than 200 different stable coins with their own community. According to its LinkedIn page, CementDAO is the only decentralized platform that curates and unifies the best stablecoins to provide risk-protection to stablecoin holders. Cement DAO’s independent rating agents select and analyze various stablecoins into a basket and market-driven insurance provides the holders with risk protection. The community of Cement DAO claims that they wanted to see cryptocurrency and financial freedom become mainstream. Key members of the team are Venezuelans who have suffered from inflation, cryptographers who are interested and want to implement financial privacy, entrepreneurs who want to build real products, and bankers who have seen the current financial system from the inside.
According to Crunchbase, CementDAO is a decentralized platform that curates the best stablecoins available to provide risk-protection for cryptocurrency traders, investors, and other stakeholders of the platform. It acts as a decentralized stablecoin aggregator and distributor that increases liquidity and reduces the risk for dollars on the blockchain. The team and the community were founded by Edan Yago.
According to its website, with Cement DAO, users can do various things including hedging their risk by holding a fraction of a basket of different stablecoins with the Cement DAO platform. Cement DAO also supports instant exchange if the users need to exchange different stable coins with the lowest fee available on the market, without any complex order book. Users can also participate in Cement DAO governance, for example by voting on what stablecoins will be included in the basket. Last but not least, users can also stake their stablecoins into the basket to earn rewards from liquidity mining.