[Crypto] Add LUSD - Githubissues

[x] I confirm there are no other open issues about this asset
[x] I understand that to actually add the asset to Haveno, a PR from the developers/community of the proposed asset might be necessary
[x] I understand that adding the asset is at discretion of the Haveno Core Team and applying doesn't necessarily imply acceptance

What's the ticker symbol of the project?

LUSD

Why should it be added to Haveno? How would it benefit the project and the community?

Liquity's LUSD is a USD-pegged stablecoin on Ethereum, backed by ETH in the form of overcollateralized loans. the system builds on the code base of Maker, the credit system that issues dai, but distinguishes itself both from Maker and all other stablecoins on a few fronts that are relevant from Haveno's point of view.

immutability. Liquity has been deployed as completely non-upgradable. this means that every rule and mechanism has been finalized and unchangeable from the start. its functioning doesn't rely on the developer team that launched it, any DAO or token governance. there is no governance. the only external reliance of the system is the price oracle for its collateral asset, everything else is automatically executing on-chain code. the developer team chose Chainlink as the main oracle, with a fallback to Tellor in case Chainlink experiences outages. as with the rest of the system, these oracle sources are also hard-coded in the form of Ethereum addresses and can't be changed by any means. this is desirable, because it allows users to rely on the protocol.
trustless collateral. the only collateral asset in Liquity is ETH, Ethereum's native currency, thus it's the most trustless collateral that is available to the protocol. it's not possible to add any other collateral types.
no official frontend. in DeFi, frontends are web UIs that allow actions that are more complex than sending/receiving. in the case of Liquity, that is loan management, redemptions and interacting with the stability and the fee-earning pools. the developer team maintains no frontends to the protocol, that's taken care of by frontend operators. there is an open-source frontend implementation that anyone can host or run locally, and some other 3rd party frontend implementations exist as well.

as decentralization is one of Haveno's core values, there is a real need for a censorship-resistant stablecoin trading pair with XMR. due to the above reasons, LUSD is the USD-pegged asset that is the closest to an ideal decentralized stablecoin. as long as the Ethereum mainnet keeps running and the Chainlink oracles don't turn malicious, LUSD is expected to work unscathed. in the 1.5 years since its launch, it has.

I previously expressed a preference for LUSD under the dai listing proposal. however, in the light of the dramatic legal crackdown on Tornado Cash, which resulted in Centre freezing all USDC deposited into Tornado Cash, numerous official frontends censoring addresses that ever interacted with Tornado Cash, and one of the Tornado devs Alexey Pertsev imprisoned by a Western democratic government, I came to believe it's critical to include LUSD and not rely entirely on censorable stablecoins.

USDT is freezable by Tether Inc., and has a questionable-at-best backing. its survival is contingent on iFinex Inc.'s sustained ability to play the market well and perform jurisdictional acrobatics.

USDC is freezable by the Centre consortium (Circle and Coinbase). its universal accessibility is contingent on Centre's willingness and ability to oppose the US government, which so far seems to be muted.

dai, as @SamsungGalaxyPlayer pointed out in the dai listing proposal, is semi-decentralized. the most worrying of its centralized aspects is that 60% of its collateral portfolio is freezable assets, with 45% being Centre's USDC (you can see that in the left-hand-side pie chart on DaiStats and arrive at exact numbers by minute calculation of the collateral make-up from the second tab). this gives Circle, and by proxy, the US government, informal power over MakerDAO, the community governing dai.

Is it an Ethereum token (ERC-20)?

[x] Yes
[ ] No

Was the coin pre-mined before public launch?

[ ] Yes
[x] No

to clarify, LUSD is issued by people depositing ETH collateral into the Liquity smart contracts and borrowing LUSD against it, so the coin supply was necessarily zero at launch.

Is there a dev fee for the project maintainers?

[ ] Yes
[x] No

to clarify, the project doesn't entail maintenance. the protocol does collect revenue in the form of loan origination fees and fees upon redeeming LUSD for ETH. this revenue can be captured by depositing the protocol's secondary token, LQTY, into a staking pool. learn more about it here and here. 23.7% of LQTY tokens were distributed to the individuals who worked on the protocol and another 6.1% is owned by the company that employed the devs (see allocations here). should they deposit their tokens into the above-mentioned staking pool, they can earn a portion of the fees, but so can anyone else who buys and deposits LQTY.

Please provide resources about the project (Website, Twitter, etc)

web: https://www.liquity.org/
blog: https://www.liquity.org/blog/
- a good write-up on the stability mechanisms of LUSD: https://www.liquity.org/blog/on-price-stability-of-liquity
Twitter: https://twitter.com/LiquityProtocol
CoinGecko profile: https://www.coingecko.com/en/coins/liquity-usd
Dune dashboard: https://dune.com/dani/Liquity
Discord (probably the easiest way to talk to the devs): https://discord.com/invite/2up5U32

haveno-dex / listing