Lucid Finance is a new decentralized platform on Ethereum created to provide a simple way for aggregating your complete blue-chip ETH portfolio on one platform and borrowing against the entirety of it to receive the combined yield in the form of a stablecoin, while also receiving additional rewards on top of it - creating a flourishing ecosystem that maximizes the rewards you receive on your capital.

The primary offering of Lucid is Digital USD, a native USD-pegged stablecoin that rewards liquid staking participants for securing the network and providing liquidity to the ecosystem, while also serving as a decentralized, trustless and censorship-resistant store of capital.

Lucid aims to help help with four main things:

1. Unlock value of assets in DUSD while earning DeFi rewards

2. Autocompound your yield earning portfolio for higher returns

3. Repay stablecoin loans using yield generated

4. Leveraged yield farming

Lucid as a protocol is non-custodial, immutable, and decentralized to create a robust protocol with favorable and flexible collateral parameters to make it attractive for those who want to get the best out of their LSTs, LST-ETH LP Tokens and other blue-chip ETH assets without tail risks from other stablecoins.

All protocol parameters are adjustable via on-chain governance and governance holders are significantly rewarded for their active participation.

DUSD is the stablecoin of Lucid Finance. It offers several new novel features along with safety mechanisms to maintain its peg to the dollar.

• Omnichain at launch (Supported on Arbitrum, Polygon and Optimism within a few weeks of mainnet launch)

• Zero fee minting/repayment

• 0% borrowing interest

• Always redeemable for $1 USD worth of ETH or collateral of your choice

• Decentralized and censorship-resistant

At launch, Lucid Finance will support all major liquid staking protocols as well as major LST-ETH LP tokens to provide a way to borrow DUSD against all your capital. Lucid is committing to adding more LSDfi assets via on-chain governance as they gain popularity in the future.

LST Collateral

• wstETH (Lido)

• cbETH (Coinbase)

• rETH (Rocket Pool)

• sfrxETH (Frax Ether)

• WBETH (Binance)

Blue-chip LP Token Collateral

• Yearn

• Curve (Yield boosted by Convex)

• Balancer (Yield boosted by Aura)

To future-proof the protocol, Lucid has been designed from the ground up to support a wide-variety of assets with different yield-bearing mechanisms, and the ability of add ETH-based tokens of newer innovative DeFi protocols (including a certain Yield-Trading protocol 👀)

Lucid is the passion-project of long time DeFi veterans who first got active in the space in 2017, and have been building since then. Led by Yototrainer, the core developers have worked together on a class-leading yield optimizer product before and have a strong background of building innovative solutions that fill existing gaps in open source DeFi. Complemented by Itamae’s extensive background in DeFi BD along with a short stint as a Web3 VC, the team is confident of creating an impactful product with Lucid.

Creating a secure and robust protocol is the highest priority at Lucid. The smart contract development has already been frozen, and the code is being stress tested internally on a daily basis. To get an extra layer of confidence in our work, we have one of the top tier auditors in the business - SourceHat (formerly known as Solidity Finance) performing an in-depth audit of the code. A huge thanks to the Dan, Keegan & team for their helpful insights. Lucid will ONLY be launched once the audit has been completed and made public. More in depth audits will be scheduled in the near future.

Lucid takes advantage of the trustless system that DeFi can enable by designing a protocol that cannot be taken advantage of by bad actors, whether internal or external. The contracts have been designed to be immutable with no scope of changing them once they are deployed. The team allocation of $LUCID is vested for 2 years, and all protocol owned liquidity added to Lucid LPs are time-locked.

We are confident that these precautionary steps taken will ensure the complete safety of user funds on Lucid and ensure its exploit-free working.

Lucid as a protocol has been designed for decentralized governance with the belief that community-driven decision making leads to the best outcomes for any DeFi protocol.

esLUCID holders have effective ownership of Lucid in all aspects. While the contracts themselves are immutable, protocol parameters like emissions and fees have been delineated separately and can be changed by governance-holders. These decisions take place via on-chain voting, with automatic execution of decisions voted for.

What’s more? 100% protocol fees generated goes to esLUCID holders.

Innovation in DeFi does not happen in isolation. Lucid is being built with a clear eye on everything that has already been built, with a focus on identifying flaws and innovating improvements that we believe can create a sustainable and rewarding platform.

Liquity is one of the original borrowing & lending platforms on Ethereum, and their stability pool system for liquidations is one of the fairest there is. Lucid brings similar mechanisms in a post-Merge era providing a way to continue earning ETH staking yield while still spending its value across the ecosystem.

The idea of borrowing against a yield farmer’s complete portfolio, including LP tokens, has existed in the space for some time, with Sturdy Finance being the pioneer of this. We believe a platform that implements an LSD-focused version of this idea has boundless potential.

The recently launched Lybra Finance served as one of the core inspirations and helped shape Lucid’s current form. A lot of Lucid’s innovation is also being worked on by Lybra themselves right now in their v2 version, but there are still fundamental differences in Lucid’s approach to collaterals and yield distribution to allow a thriving co-existence.

Lucid is all set to launch in July 2023. To kick things off, Lucid will have a public sale based on fair mechanisms before launch.

More details about the IDO will be released in the upcoming days, along with the details of some sweet incentives for those who dream with us.

Website: https://lucideth.fi

Documentation: https://docs.lucideth.fi

Twitter: https://twitter.com/lucid_fi

Discord: https://discord.gg/lucideth

Lucid Finance is a new decentralized platform on Ethereum created to provide a simple way for aggregating your complete blue-chip ETH portfolio on one platform and borrowing against the entirety of it to receive the combined yield in the form of a stablecoin, while also receiving additional rewards on top of it - creating a flourishing ecosystem that maximizes the rewards you receive on your capital.

The primary offering of Lucid is Digital USD, a native USD-pegged stablecoin that rewards liquid staking participants for securing the network and providing liquidity to the ecosystem, while also serving as a decentralized, trustless and censorship-resistant store of capital.

Lucid aims to help help with four main things:

1. Unlock value of assets in DUSD while earning DeFi rewards

2. Autocompound your yield earning portfolio for higher returns

3. Repay stablecoin loans using yield generated

4. Leveraged yield farming

Lucid as a protocol is non-custodial, immutable, and decentralized to create a robust protocol with favorable and flexible collateral parameters to make it attractive for those who want to get the best out of their LSTs, LST-ETH LP Tokens and other blue-chip ETH assets without tail risks from other stablecoins.

All protocol parameters are adjustable via on-chain governance and governance holders are significantly rewarded for their active participation.

DUSD is the stablecoin of Lucid Finance. It offers several new novel features along with safety mechanisms to maintain its peg to the dollar.

• Omnichain at launch (Supported on Arbitrum, Polygon and Optimism within a few weeks of mainnet launch)

• Zero fee minting/repayment

• 0% borrowing interest

• Always redeemable for $1 USD worth of ETH or collateral of your choice

• Decentralized and censorship-resistant

At launch, Lucid Finance will support all major liquid staking protocols as well as major LST-ETH LP tokens to provide a way to borrow DUSD against all your capital. Lucid is committing to adding more LSDfi assets via on-chain governance as they gain popularity in the future.

LST Collateral

• wstETH (Lido)

• cbETH (Coinbase)

• rETH (Rocket Pool)

• sfrxETH (Frax Ether)

• WBETH (Binance)

Blue-chip LP Token Collateral

• Yearn

• Curve (Yield boosted by Convex)

• Balancer (Yield boosted by Aura)

To future-proof the protocol, Lucid has been designed from the ground up to support a wide-variety of assets with different yield-bearing mechanisms, and the ability of add ETH-based tokens of newer innovative DeFi protocols (including a certain Yield-Trading protocol 👀)

Lucid is the passion-project of long time DeFi veterans who first got active in the space in 2017, and have been building since then. Led by Yototrainer, the core developers have worked together on a class-leading yield optimizer product before and have a strong background of building innovative solutions that fill existing gaps in open source DeFi. Complemented by Itamae’s extensive background in DeFi BD along with a short stint as a Web3 VC, the team is confident of creating an impactful product with Lucid.

Creating a secure and robust protocol is the highest priority at Lucid. The smart contract development has already been frozen, and the code is being stress tested internally on a daily basis. To get an extra layer of confidence in our work, we have one of the top tier auditors in the business - SourceHat (formerly known as Solidity Finance) performing an in-depth audit of the code. A huge thanks to the Dan, Keegan & team for their helpful insights. Lucid will ONLY be launched once the audit has been completed and made public. More in depth audits will be scheduled in the near future.

Lucid takes advantage of the trustless system that DeFi can enable by designing a protocol that cannot be taken advantage of by bad actors, whether internal or external. The contracts have been designed to be immutable with no scope of changing them once they are deployed. The team allocation of $LUCID is vested for 2 years, and all protocol owned liquidity added to Lucid LPs are time-locked.

We are confident that these precautionary steps taken will ensure the complete safety of user funds on Lucid and ensure its exploit-free working.

Lucid as a protocol has been designed for decentralized governance with the belief that community-driven decision making leads to the best outcomes for any DeFi protocol.

esLUCID holders have effective ownership of Lucid in all aspects. While the contracts themselves are immutable, protocol parameters like emissions and fees have been delineated separately and can be changed by governance-holders. These decisions take place via on-chain voting, with automatic execution of decisions voted for.

What’s more? 100% protocol fees generated goes to esLUCID holders.

Innovation in DeFi does not happen in isolation. Lucid is being built with a clear eye on everything that has already been built, with a focus on identifying flaws and innovating improvements that we believe can create a sustainable and rewarding platform.

Liquity is one of the original borrowing & lending platforms on Ethereum, and their stability pool system for liquidations is one of the fairest there is. Lucid brings similar mechanisms in a post-Merge era providing a way to continue earning ETH staking yield while still spending its value across the ecosystem.

The idea of borrowing against a yield farmer’s complete portfolio, including LP tokens, has existed in the space for some time, with Sturdy Finance being the pioneer of this. We believe a platform that implements an LSD-focused version of this idea has boundless potential.

The recently launched Lybra Finance served as one of the core inspirations and helped shape Lucid’s current form. A lot of Lucid’s innovation is also being worked on by Lybra themselves right now in their v2 version, but there are still fundamental differences in Lucid’s approach to collaterals and yield distribution to allow a thriving co-existence.

Lucid is all set to launch in July 2023. To kick things off, Lucid will have a public sale based on fair mechanisms before launch.

More details about the IDO will be released in the upcoming days, along with the details of some sweet incentives for those who dream with us.

Website: https://lucideth.fi

Documentation: https://docs.lucideth.fi

Twitter: https://twitter.com/lucid_fi

Discord: https://discord.gg/lucideth