The day before yesterday, I saw the official announcement that Cap Finance's cUSD and stcUSD have been launched on #Dolomite . I happened to have some idle stablecoins, so I couldn't wait to try these two new varieties that are "backed by multiple endorsements and can prevent disconnection." After a series of operations, I found that not only were the returns unexpectedly considerable, but the practicality under Dolomite's unified account model was higher than I had imagined.
At first, I was curious about how they differ from traditional USDC, DAI, etc.: cUSD and stcUSD are backed by Cap Money's multi-asset collateral mechanism, which is said to provide additional returns and "anti-explosion" measures, while also allowing participation in collateral mining. My approach was to first convert some USDT into cUSD, then choose to collateralize this portion of assets on the lending panel, and continue to borrow ETH. Ultimately, I formed a position similar to a leveraged long. Looking back at the yield report, I only paid Gas once during the process (thanks to Dolomite's cross-margin mechanism), but it leveraged multiple asset synergies. This way, it invisibly improved the capital utilization rate.
What's even better is that the cUSD and stcUSD balances can also serve as natural voting rights. I experienced community governance voting in the 'Dolomite Governance Forum' and added the locked $DOLO to the staking. I found that I could still 'earn profits while staying in the strategy' and also have a say in protocol voting. In other words, unlike traditional protocols where you either lose voting rights by placing assets in the lending pool or have to remove collateral to vote, these issues have been cleverly addressed on #Dolomite .
Lastly, I want to mention the newly launched Gas Refuel feature. I performed a beginner's operation for a friend, adding his miTokens from the Arbitrum bridge and casually exchanged for 0.1 $DOLO using 'Refuel'.
When Gas fees were directly reduced, it alleviated the hassle for newcomers during their first interactions. The entire process is simple and effective, showing that the officials are indeed refining the experience for new users.
Overall, this practical test of cUSD/stcUSD gave me a new perspective on 'diverse stablecoins + capital collaboration', and #Dolomite happens to leverage the power of its main contract, SoloMargin, to integrate collateral, leverage, and voting into a single account, saving me countless cumbersome steps. If this design can continuously provide considerable compound annual returns, I believe not only myself but many more users will regard #Dolomite as the preferred entry point for 'managing all DeFi assets and strategies'. I personally will continue to pay attention to the next phase of features for @Dolomite and look forward to Dolomite maintaining its 'technical all-in-one' characteristic and continuing to move more steadily and further in the multi-chain and cross-chain competitions.
