• how long should i lock scusd on rings to get veusd to mint eliteusd?

  any duration lock is fine, you get the Liquid Wrapper, while the underlying you give up to elite gets maxlocked

• is eliteUSD a stablecoin?

  yeah think of it as a stablecoin, its not super stable at $1, and can go under, but the idea is you get to unlock USDC from it over a 1 year unlock period, while earning the yield. if you are familiar with PTs from pendle, its a similar tokenomic setup. its minted with locked scUSD, which can be unlocked over a year if selling it gives a bad price.

• what if it depegs?

  the 1 year unlock is the backup mechanism which underpins the price/peg/ratio, which is basically market’s perception of its yield. like buying 1 eliteUSD for $0.9 means you get $1 after a year = 10% apr after a year, guaranteed. so akin to buying PTs on Spectra/Pendle/etc. but holding eliteUSD would pay yield as well so quite a market dynamic there, which prices in as a premium to make it as close to $1 as possible

• whats the partner program?

  anyone can partner with us to get a proportional share of our rewards, basically think of it like 10m eliteusd supply earns 2m a year. your pool has 500k eliteusd (5% of total supply), so it gets about 5% of the earnings = $100k a year, common themes: pair your token with eliteusd in a LP, we pay you directly, weekly based on how much minimum eliteUSD your pool held during the week. alternatively, we can also LP bribe or Vote bribe to make the most out of this!

• can eliteUSD price go higher that $1?

  yep, its designed to go up only, similar to ethena :ethena: Mint fees and redeem fees compound back into the ever-increasing mint ratio, which props up the inherent valuation as scUSD backing per eliteUSD goes up only.

• does it rebase?

  it does rebase, but not from the yield, but from the fees. As a result, the scUSD backing per 1 eliteRingsScUSD goes up only. Same is reflected in the Minting Ratio!