Because Uniswap algorithm will have too big of a slippage if stablecoins are traded. We use StableSwap algorithm optimized for stablecoins. Read more in xSigma whitepaper: https://xsigma.fi/xsigma.whitepaper.pdf
It is similar in many ways: decentralized, open to everyone, free, non-custodial, but also has unique features as gas cashback, SIG token burn and SIG token governance (coming soon).
Your stablecoins are converted automatically to a balanced pool position when you deposit. The stablecoins you choose don't matter, only an amount. However, you may receive a small deposit bonus if you deposit more of a stablecoin that is currently in shortage.
Your APY will depend on current SIG price and will be shown on Rewards page.
We will keep the community posted about our plans to get listed on top CEXs. SIG will be available on Uniswap on launch. See the Buying SIG section.
The rewards are distributed according to the current mint rate and proportions. For example: For a total of 100M in stablecoin liquidity staked, each 1000$ deposited will receive approx. 0.4 SIG each day in pool1. For a total of 10M in pool2 liquidity staked, each 1000$ deposited will receive about 4 SIG each day.
One of the features in xSigma DEX is a gas cashback. Traders who hold SIG token will be party reimbursed for their gas fees.
xSigma works on many products, including layer-2 extension for xSigma DEX, ETF-like token sets.
You can deposit one coin, or all three. Basically, you can choose which amounts deposit for each coin. Your stablecoins will be converted automatically on deposit, and you will receive SIG-LP tokens indicating your pool share.
For example, if you deposit 1000 DAI, they will be automatically converted to approximately 333 DAI, 333 USDC, 333 USDT and then deposited into the pool to act as a liquidity. The rates and the amount of the pool share you will receive will be shown to you before a transaction.
As the demand for decentralized finance grows, many different stablecoin flavors show up. They connect usual fiat stability with DeFi freedom. We believe they will be a basis for a future of DeFi. DAI/USDC/USDT are the biggest ones right now.
However, as there are many stablecoins, and different exchanges/services accept different coins (usually each one accepts his own or the ones they partnered with), there is a growing demand for a fast and cheap transfer between stablecoins.
For example, you can bet on Augur via https://catnip.exchange/ interface, which supports only DAI. Well-known Polymarket is USDC-only, and if you want to trade some altcoins, you would need USDT for Binance. Right now, daily trading volume for stablecoins is nearly 5M$.
xSigma DEX here is a powerful mediator who will conduct such transfers effortlessly and cheaply.