Avalanche-based DeFi Insurance Protocol Degis to Launch Stablecoin Shield

Avalanche-based DeFi insurance protocol Degis recently announced that it will launch its native stablecoin called Shield, a $USDC-collateral stablecoin. One Shield is fully collateralized by one $USDC. Users can stake supported stablecoins on Degis, then Degis will call DEX to swap the stablecoin into $USDC as collateral and mint the same amount of Shields for users. Meanwhile, Shield can be redeemed back to stablecoins with a floating rate. Users can burn Shield to get $USDC, then swap $USDC for other stablecoins. Shield will be the stablecoin that is used in the Degis protocol. In addition, Degis will offer flash loans using $USDC collateral. Users who stake stablecoin to mint Shield will receive interest from flash loans as rewards.