what's DYAD?

DYAD is a decentralized stablecoin protocol on Ethereum that allows users to mint the DYAD stablecoin through Collateralized Debt Positions (CDPs). Users purchase an NFT called a Note to open positions, depositing assets like WETH, wstETH, tBTC, or sUSDe as collateral with a minimum 150% collateralization ratio. The system supports scalable minting, partial liquidations if the ratio drops below 150%, and seamless Note transfers without moving assets. The protocol's utility token KEROSENE tokenizes excess collateral surplus (TVL minus minted DYAD), enabling users to achieve up to 100% loan-to-value (LTV) minting by depositing it into Notes. KEROSENE value is deterministically tied to this surplus, and it can be farmed via liquidity provision in DYAD pairs, accruing XP rewards based on holdings and time locked.

DYAD winds down $kerosene Uniswap V2 liquidity pool.

contract