Deus

Other

Deus is a decentralized marketplace for financial services that aims to build next-generation asset tokenization.

Risk Rating
Watch Out
Protocol Code Quality
Protocol Maturity
Protocol Design
Summary
What we like
Deus provides an on-chain framework for the creation of any digital derivatives including forex, stocks, and crypto assets.
What we like less
Deus has concerning reflexivity as its DEUS token is used to mint and redeem the DEI stablecoin based on the current collateralization ratio, which can lead to negative feedback loops in volatile market conditions.
What it means for you
Offers you access to a decentralized stablecoin that is usable and redeemable across all chains through the use of its own DEUS cross-chain bridge.

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Information
Exploit/Hacks
Several
Info
Key Metrics
  • TVL: $6.4K (Rank #227)
  • TVL Ranking by Other: #0
  • Blockchain: Ethereum, Polygon, Fantom
  • Chain TVL
    • Ethereum: $6.42K
    • Polygon: $0
    • Fantom: $0
Risk Assessment
Watch Out
Protocol Code Quality
  • Code not reviewed by any experienced auditors
  • Public team promotes accountability
  • Several documented protocol hacks
Protocol Maturity
  • Core protocol launched in 2021; maturity over one year minimizes technical risk as smart contracts are well battle-tested
  • Bottom 80% by total value locked increases risk
  • Core contracts can be upgraded with just an EOA wallet
  • No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
  • Low voting power concentration reduces risk
Protocol Design
  • Protocol is susceptible to death spirals
  • Poor mechanisms to mitigate oracle price manipulation
  • This protocol is susceptible to risks related to yield optimizers which deploy custom strategies to automatically manage user funds
Things to know about Deus

How Deus works

Deus is a derivatives protocol that allows users to trade digital and real-world assets like stocks and commodities in a decentralized manner. The tokenized assets trade at a 1:1 ratio with their prices updated in real-time using oracles. The protocol offers a swap trading platform, a synthetic trading platform, and an algorithmic stablecoin. Deus Swap allows for different ERC-20 tokens to be swapped. The Deus Synthetic platform provides users access to real-world assets like stocks and commodities. The protocol's fractional reserve DEI stablecoin serves to address the issue of cross-chain liquidity. Deus aims to bridge liquidity across all chains through its cross-chain bridge powered by oracles and the DEI stablecoin. Users can bridge DEI to any chain with zero slippage. DEI serves as the unit of account for all trading activity within the Deus ecosystem. Similar to the Frax system, DEI is minted and redeemed with DEUS depending on the current collateral/redemption ratio. The collateralization ratio is currently 100% to mint and 99% to redeem. This means DEI requires full backing by external stablecoins to be minted but redemption issues $99 in USDC and $1 in DEUS. This ratio is expected to eventually trend towards 90/10, resulting in 10% DEUS burned for every DEI minted.

How Deus makes money

The protocol collects fees from the minting and redemption of DEI stablecoin and platform trading fees. A portion of this revenue is shared with DEUS lockers (veDEUS).

How you make money on Deus

You can supply DEI liquidity to decentralized exchanges to earn trading fees. DEUS stakers (veDEUS) can earn a portion of platform fees and protection against dilution.

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