Asymmetry Finance launches USDaf, an immutable stablecoin borrowed at user-fixed interest rates

Asymmetry Finance has launched USDaf, a USD‑denominated, overcollateralized stablecoin built on a fork of Liquity v2 that lets users borrow against BTC and yield‑bearing stablecoins at user‑defined, fixed interest rates. The protocol describes USDaf as immutable by design, meaning the core smart contracts cannot be upgraded, with governance limited and risk parameters encoded at deployment. According to Asymmetry’s documentation, borrowers can open collateralized debt positions using assets such as wBTC, tBTC, sfrxUSD, sUSDS, scrvUSD, and ysyBOLD, and then choose their own fixed borrowing rate within protocol constraints, rather than relying on a floating rate set by governance or an algorithm. USDaf is issued directly when users borrow against their collateral, following a CDP (collateralized debt position) model similar to Liquity but extended to multiple BTC and yield‑bearing stablecoin collaterals instead of a single asset. The stablecoin is designed to be fully decentralized, with liquidations based on on‑chain collateral values and no central issuer controlling minting or redemption, aligning with Asymmetry’s broader focus on non‑custodial, smart‑contract–based DeFi primitives. Asymmetry markets USDaf as a way for users to lock in predictable borrowing costs in volatile rate environments, while the “immutable” architecture is positioned as a safeguard against governance capture or risky contract upgrades, an issue that has affected some earlier DeFi stablecoin and lending protocols.

✨ AI-generated background, compiled from web sources — not editorial content.

More coverage

• Asymmetry Finance price ASF #5401 - CoinMarketCap (coinmarketcap.com)
• Asymmetry USDaf Price - CoinGecko (coingecko.com)
• Asymmetry USDaf Legacy Price (USDAF) - Coinbase (coinbase.com)
• Asymmetry Finance (home.asymmetry.finance)
• Welcome to Asymmetry Finance | Asymmetry (docs.asymmetry.finance)

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