Relend Network USDC (Swell) (RUSDC)

Relend Network USDC (Swell) (RUSDC) is an innovative stablecoin designed to provide liquidity and stable value across various Layer 1 (L1) and Layer 2 (L2) ecosystems. As part of the Relend Network, rUSDC facilitates seamless access to financial services by offering a unique approach to stablecoin issuance closely tied to over-collateralized lending markets. With a total value locked (TVL) of approximately $81.37 million, RUSDC aims to stimulate economic activity within decentralized finance (DeFi) by ensuring reliable access to liquidity.

The RUSDC operates on a 1:1 redemption model for USDC on Ethereum, underpinned by local and global price stability modules that enhance confidence in redemptions. This stability is crucial as it addresses the challenges of multi-chain ecosystems, enabling users to engage in cross-chain transactions with minimized risks. By strategically deploying rUSDC into partner money markets across multiple chains, this stablecoin contributes to a growing credit supply and increased total value within DeFi platforms.

Additionally, the Relend Network supports scalable credit supply, creating an efficient pathway for users to stimulate liquidity and financial engagement across different chains. By integrating features such as Morpho vaults, which generate competitive interest rates and unique incentives, RUSDC enhances the overall DeFi ecosystem. Through its hybrid approach to collateralized debt positions (CDPs), rUSDC ensures that while each chain has a native stablecoin instance, they work collectively to optimize liquidity flow and ecosystem resilience.