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# System prepended metadata

title: RUSD 1-Page

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# RUSD Overview
RUSD is an immutable $1 stablecoin backed by ETH only. It uses principles of RAI and Liquity and should have the best long-term market price stability of any decentralized stablecoin so far.


# Improved Market Price stability

RUSD used a floating redemption value to target a RUSD market price of $1.


The market price has an upper bound of $1.10 due to a minimum c-ratio of 110%. The low c-ratio is possible with a Liquity-style pool used for liquidations.

The market price will have a tight lower bound due to direct redemptions of RUSD for $1 worth of ETH.

This market price feedback controller should create more stable market prices than Liquity V1.  No prolonged market price deviations from $1 will occur.

Another way to think about it:

Liquity has a fixed redemption value and a floating market price.
RUSD has a floating redemption value and targets a fixed market price.


# System Pool: Liquidation and Redemption Pool

The System Pool will be built on top of Uniswap V4 RUSD/ETH pool and make novel use of hooks.

Stakers will stake RUSD/ETH that can be used for liquidations and redemptions, but also used for swap liquidity.

Stakers will have 5 sources of revenue.
-loan fees
-redemption fees
-liquidation fees
-swap fees
-token emissions

# Immutable

The protocol will be ossified from day 1.

The protocol will use kickbate rates to compensate decentralized frontends.

RUSD will use a median of existing ETH/USD oracles.


# Tokenomics
The only power the governance token will have is to turn on a fee switch, diverting a portion of System Pool fees to token holders.

Emissions schedule is TBD.