What is ELUSD?

ELUSD is ELYSIA’s new synthetic dollar. By depositing U.S. dollar stablecoins (e.g., USDT) you can mint ELUSD; if you stake it to mint sELUSD, you receive a periodic share of protocol revenue as yield.

Revenue Strategy

The protocol currently generates revenue through a repeatable arbitrage strategy that captures price discrepancies for the same coin across exchanges in different countries.

• When the local premium is high, the strategy sells the coin(USDT), converts the proceeds to KRW, then exchanges KRW back to USD and holds the USD.

• When the premium is low (or there is a discount), the strategy converts USD to KRW and repurchases the coin(USDT).

By iterating this cycle, the protocol realizes returns from cross-market inefficiencies.

Distribution & Reserves

A portion of arbitrage profits is allocated to reserves, and the remainder is periodically distributed to sELUSD holders.

Value Proposition

This design delivers more than simple deposit yield, positioning ELUSD as an income-generating stable asset within the ELYSIA ecosystem.