Convert Sumer.Money suUSD SUUSD to Stake DAO FXN SDFXN

suUSD is a multichain fungible synthetic asset by Sumer.Money pegged to USD and representing same security characteristics and collateral backing across all supported networks. suUSD provides a credit card-like experience to users to promote multichain liquidity and seamless cross-chain smart contract communications. As a DeFi user, you can deposit your assets (ETH, BTC, USDC, USDT, etc.) on the native blockchain in the Sumer lending and borrowing market to mint the synthetic asset.

Liquid Lockers address a significant issue in the DeFi space. Previously, if a person or protocol wanted to use their lockable tokens (like CRV, FXS, etc.) for governance or for boosting yield, they faced a tough decision. They could either lock on the native protocol, which allowed them to enjoy a yield and ability to vote through governance while losing liquidity. Alternatively, they could use a locker, reap the benefits of boosted yield and yield farming, have the ability to exit with a limited penalty, but forfeit their governance power. This forced a choice between voting power and yield, imposing restrictions on users. Liquid Lockers aim to offer the best of both worlds. They enable users to lock their tokens and receive sdTOKENs in return. Users can stake these sdTOKENs on Stake DAO to gain various benefits, such as native APR, a share of boosted strats rewards, the ability to sell voting rights of the underlying asset, and additional SDT incentives. They always have the possibility of exiting their position and returning to the underlying token. 🔑 Key Features Yield (rewards earned through underlying protocol) Liquidity (liquidity pools to exchange sdTokens) Governance power (ability to vote on underlying protocol with sdTokens) Vote incentives rewards (due to governance power) Cross-chain accessibility