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Introducing NZDS by Techemynt – Swap & Liquidity Pools now available on Stabull DEX

Published On: Aug 14, 2024•By •
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In the ever-evolving landscape of decentralized finance (DeFi), stablecoins have emerged as a strong identifiable use-case that offers a crucial bridge between traditional finance (TradFi) and the dynamic world of the Web3.

In this article, we look at NZDS by Techemynt, a New Zealand Dollar-denominated stablecoin which is now available on Stabull’s decentralized exchange (DEX). 

What is NZDS?

NZDS is a New Zealand Dollar-backed stablecoin created by Techemynt, and was founded in Auckland in 2020. It is part of the larger Techemy Capital group. 

It is backed 1:1 by NZD which is held in reserve with a registered Financial Service Provider in New Zealand, and maintained with regular audits and transparent reporting to ensure that the amount of NZDS in circulation match these reserves. 

Key Features of NZDS:

NZDS is available on Ethereum and Polygon blockchains.

It also adheres to New Zealand’s Financial Regulations to ensure that it meets local legal and compliance standards. 

It facilitates remittances and payments within New Zealand and across the world using the blockchain to improve efficiencies and reduce costs, as well as allowing traders to hedge against market volatility without converting to fiat.

NZDS on Stabull DEX

With the introduction of NZDS, Stabull users can now enjoy on-chain access to the 7th most traded forex pair in the world (source: Forbes) , with NZD/USD accounting for just over 4% of global FX trading volume in 2024. 

The two NZDS pools deployed on Stabull are:

  • Ethereum NZDS/USDC Pool: 0xe37d763c7c4cdd9a8f085f7db70139a0843529f3
  • Polygon NZDS/USDC Pool: 0xdcb7efACa996fe2985138bF31b647EFcd1D0901a

This integration brings several benefits and features:

Seamless Swapping

Stabull DEX offers a smooth, efficient and low-cost swapping mechanism between NZDS and USDC, as well as a number of other fiat backed stablecoins:

  • 1GBP by poundtoken (British Pound Sterling)
  • TRYB by BiLira (Turkish Lira)
  • EURS by Stasis (Euro)
  • XSDG by StraitsX (Singapore Dollar)
  • BRZ by Transfero (Brazilian Real)
  • GYEN by GMO (Japanese Yen)

Low Fees and Fast Execution

Stabull’s proactive AMM design dynamically re-centers liquidity around an off-chain NZD/USD oracle, minimizing slippage on swaps. Coupled with a low 0.05% swap fee per pool, Stabull offers low-cost, fast and trustless swaps thanks to the power of a decentralized ledger of the corresponding blockchain.

Liquidity Pools and Earning Opportunities

NZDS holders have the opportunity to join liquidity pools by becoming ‘Liquidity Providers’ or ‘LPs’ on both Ethereum and Polygon networks. By providing liquidity, users can earn a share of trading fees generated from NZDS swaps as well as participate in the liquidity mining program, making it an attractive option for those looking to maximize their returns.

Conclusion

The addition of NZDS to Stabull marks a significant milestone in the DeFi ecosystem. With the NZD/USD FX pair being the seventh most traded in the world, it allows access to a 24/7/365 market, as well as simple swaps into a growing number of other fiat-backed stablecoins.

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