dSUR // PROTOCOL CONTROL

CR: --- PREMIUM: --- DISCOUNT: ---

BALANCES [NOT_CONNECTED]

dSUR---

wARS---

wBRL---

wCOP---

EXECUTE [TX]

DSUR_TO_MINT

wARS (50%)	0.00
wBRL (35%)	0.00
wCOP (15%)	0.00
FEE (0.3%)	0.00
TOTAL_VALUE	$0.00

COLLATERAL_RATIO ---

0%

130%

150%

170%

200%

CORE_VITALS [CHK]

COLLATERAL_RATIO---

COLLATERAL_USD---

DSUR_SUPPLY---

MINT_PREMIUM---

REDEEM_DISCOUNT---

RESERVES_USD---

TARGET_PRICE$1.3333

PRICE_FEED TWAP

1_wARS---

1_wBRL---

1_wCOP---

VAULT_RESERVES LIVE

wARS

---

wBRL

---

wCOP

---

dSUR

---

What is dSUR?

dSUR is a decentralized synthetic stablecoin pegged to $1.3333 USD, backed by a basket of wrapped South American fiat currencies on Worldchain. It acts as a unified unit of account for the Mercosur economic region.

Collateral Basket

Every dSUR is backed by three currencies in fixed proportions:

Asset	Currency	Weight
wARS	Argentine Peso	50%
wBRL	Brazilian Real	35%
wCOP	Colombian Peso	15%

Weights are designed to reflect each economy's relative influence in the region.

Minting & Redeeming

Users deposit the three collateral tokens to mint dSUR, and burn dSUR to redeem collateral. The required amount of each token is determined by the target price and live oracle prices:

totalUSDC = dsurAmount × 1.333333 arsUSDC = totalUSDC × 50% brlUSDC = totalUSDC × 35% copUSDC = totalUSDC × 15% Each USDC value is converted to token amounts using live TWAP prices from Uniswap V4 pools.

Slippage protection is built in: users set maximum costs (mint) or minimum outputs (redeem) and the transaction reverts if limits are breached.

Collateral Ratio

The Collateral Ratio (CR) measures system health — the total USD value of vault reserves divided by the USD value of all outstanding dSUR:

CR = collateralValueUSD / (dSUR_supply × 1.333333)

The protocol defines four zones:

Zone	CR Range	Behavior
SAFE	≥ 170%	No premium, no discount
TARGET	150% – 170%	Mint premium scales linearly
CRITICAL	130% – 150%	Premium + redemption discount
FLOOR	< 120%	System halted

Soft Liquidation

dSUR uses economic incentives instead of hard liquidations. As the CR drops, two mechanisms activate to self-stabilize the system:

1. Mint Premium

When CR falls below 170%, minting becomes progressively more expensive. Extra collateral paid stays in the vault, improving CR.

If CR ≥ 170%: premium = 0% If CR ≤ 130%: premium = 10% (max) Between 130%–170% (linear): premium = (170% − CR) / (170% − 130%) × 10%

Example: at CR = 150%, premium = (20/40) × 10% = 5%

2. Redemption Discount

When CR falls below 150%, redeeming returns less collateral. The withheld tokens remain in the vault, slowing capital flight and restoring CR.

If CR ≥ 150%: discount = 0% If CR ≤ 130%: discount = 15% (max) Between 130%–150% (linear): discount = (150% − CR) / (150% − 130%) × 15%

Example: at CR = 140%, discount = (10/20) × 15% = 7.5%

Combined Effect

The premium discourages new dSUR creation while the discount discourages exits. Together, they create a self-correcting pressure that pushes CR back toward the safe zone — without any liquidations, auctions, or governance intervention.

Fee Structure

Fee	Rate	Applied To
Base Mint Fee	0.3%	Added to collateral cost
Base Redeem Fee	0.3%	Deducted from output

Fees accumulate in the vault as protocol reserves. Total effective cost = base fee + dynamic premium/discount.

Price Oracle

Prices are sourced from Uniswap V4 TWAP (Time-Weighted Average Price) oracles on Worldchain. The system averages two consecutive observations to smooth volatility:

twapPrice = (currentSqrtPrice + prevSqrtPrice) / 2

Prices must be updated at least every 60 seconds
Prices older than 1 hour are rejected as stale
Anyone can call updatePrices() to refresh the oracle

Contracts

Contract	Address
dSUR Token	0xCCEd7BbF1C8A94651F7d661D24D6AaD81a44FD0A
dSURVaultV4	0x5da7Cf585bE4f6b8064b2777bb2c63645DC20a09

Deployed on Worldchain (Chain ID: 480). Contracts are verified on Worldscan.