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Ubiquity Dollar (Ubiquity DAO)

About

Ubiquity DAO develops decentralized products including the Ubiquity Dollar (UUSD), a collateralized stablecoin pegged to the US dollar. The ecosystem includes yield aggregation, bonding mechanisms, and UbiquityOS for DAO operations automation. It targets DeFi users seeking stablecoin yields and DAOs needing governance infrastructure.

Where Does Yield Come From?

Yield is earned in two main ways within the Ubiquity Dollar ecosystem.

First, there is a Yield Aggregator vault. Users deposit stablecoins like DAI or USDC. A 10% fee from each deposit goes to the protocol's treasury (its reserve of backing assets). The vault then puts these funds into conservative, low-risk yield farming strategies on other platforms—these strategies are reviewed and approved by the Ubiquity community. The actual farming earnings stay with the protocol to increase the collateral reserve that supports the Ubiquity Dollar stablecoin.

In return for their deposit, users receive double the amount of the underlying farming yield, but paid in a different token called uCR. uCR tokens are perpetual credit notes. Each one can be redeemed for 1 Ubiquity Dollar (uAD) later, but only when the stablecoin is trading for more than $1.

Second, users can earn through bonding. Here, users provide liquidity by depositing both Ubiquity Dollar and another stablecoin (like USDC) into a trading pair. They receive LP (liquidity provider) tokens representing their share. These LP tokens can be exchanged for uCR tokens at a discount. The discount rate is not fixed—it moves up or down based on how many people are using this bonding option.

Both of these methods work toward the same goals: they help grow the pool of assets that partially backs the Ubiquity Dollar stablecoin, while offering users a way to get amplified yield exposure through the uCR credits.

Persons

  • Alex

    Founder

  • Ser

    Engineering Manager

  • Zequez

    Developer

  • Alvaro

    Community driver, meme lord, Web3 researcher

  • Mentlegen (Fernand Veyrier)

    Full-stack/Web3 developer

    LinkedIn

Audits

Audit / DateFindingsVerdict
Sherlock01-12-2023
  • Critical0
  • High0
  • Medium0
  • Low0
  • Info0
The audit discussions reveal concerns around TWAP oracle reliability and price staleness in the Ubiquity Dollar protocol, though without a finalized findings summary it's unclear which issues were ultimately validated and fixed.

Backers

Ubiquity DAO is supported by industry leaders in decentralized finance and gaming. According to the official ubq.fi website, the project's investors include Animoca Brands, Concave, Merit Circle, Momentum6, Ascensive Assets, Snackclub, Csquared, Play Ventures, 369.io, NewTribe Capital, and Bltzr. These investors are listed on the website's "Our Investors" section. Specific funding round amounts, dates, or valuation details are not publicly disclosed on the official sources reviewed.

Legal

Legal form

Decentralized Autonomous Organization (DAO)

Status and notes

Ubiquity presents itself as a Decentralized Autonomous Organization (DAO) building financial primitives on Ethereum. No legal entity, registration jurisdiction, or corporate structure is disclosed in official sources. The project refers to a core team, partners, and individual contributors collaborating as a DAO.

Ubiquity Dollar (Ubiquity DAO) | Protocol | DefiCare