[AddToken] yoUSD on MAINNET #1010
Description
Network
MAINNET
Token Symbol
yoUSD
Token Name
Yield Optimizer USD
Decimals
6
Address
0x0000000f2eb9f69274678c76222b35eec7588a65
Image URL
Reason
Each of these tokens (yoETH, yoBTC, yoUSD) is a receipt of a deposit of ETH, USDC or cbBTC in the YO protocol. YO has been audited 3 times without any HIgh or Critical vulnerability. The reports can be found at docs.yo.xyz/security-audits.
Through our existing integrations with OpenOcean and Balancer, we are ensuring that buys and sells are served by the protocol vaults directly whenever the swap amount is too large for onchain liquidity. This ensures users are getting in/out at the fair value of the receipt token instead of buying at a premium or selling at a discount. OpenOcean routes all trades through the vault directly, meaning the vaults serve buy orders as deposits and serve sell orders as redemptions.