The bear market is back, and everyone’s positions are shrinking. At this time, the most needed is a stable, high-yield project to earn interest.

Recently, while organizing projects, I discovered one such project @ELYSIA_HQ: a synthetic USD that fully brings the Korean Kimchi Premium structural arbitrage onto the chain. Currently, the real-time APY is 18.01%, and the price is firmly anchored at 1.00 USDT.

1. The core logic does not rely on inflation mining; 100% comes from genuine market price differences. Due to Korea’s capital controls and local demand, Kimchi Premium has repeatedly appeared since 2017. The protocol uses AI to capture real-time data: when the premium is high, sell USDT in Korea and hedge KRW exchange rate risk; when low, reverse to replenish inventory. Part of the profit goes into reserves, and part is distributed to sELUSD holders, with no token dilution.

2. The bear market actually presents a good opportunity. By December 2025, political instability in Korea and KRW depreciation could push the Kimchi Premium to 3-5% (CryptoQuant data, highest in nearly four months), directly fueling the ELUSD arbitrage engine. Currently, the APY remains steady around 18%, with a conservative protocol target of 18% (backtested over 40%), and a long-term sustainable expectation of 10%+.

3. Mechanism breakdown:
1) USDT 1:1 Mint ELUSD (strongly anchored by arbitrage mechanism)
2) Stake to become sELUSD and start earning real yields + double EL Points
3) Security design: zkTLS cryptographic verification of off-chain reserves, weekly transparent reports, real-time dashboard at a glance
4) Endorsements: DWF Labs, XRPL, Kaia, and other institutions; team with 6+ years and zero major incidents; Wyoming DAO LLC compliant structure

4. Personal interpretation: In a bear market, assets that resist decline and generate cash flow are most needed. ELUSD democratizes institutional-level arbitrage, allowing retail investors to access structural Alpha without barriers or the need for active monitoring and hedging. The RWA track is expected to explode in 2025 (tokenized US debt exceeding $8 billion), and ELUSD is one of the few truly sustainable projects.

5. Simple comparison:
1) Banks/US Treasuries: ~5%, safe but too low.
2) CeFi lending: 6-10%, with centralized risk.
3) Traditional DeFi farms: 15-30%, mostly rely on inflation, and collapse in bear markets.
4) In the current environment, ELUSD is suitable for holding 10-20% idle USDT positions for the medium to long term.

6. Risk disclaimer (DYOR):
1) Yield fluctuations depend more on the volatility of the Kimchi Premium indicator rather than its absolute level. If regulatory measures or market structures suppress this volatility over a long period, yields may trend downward; however, the mechanism is designed to flexibly adjust buy/sell trigger conditions to help maintain a stable annualized return.
2) Off-chain execution still involves some trust components (but with zk proofs + report endorsements).
3) TVL is currently moderate; liquidity needs ongoing observation.

7. Operation process: Connect wallet → Mint ELUSD → Stake sELUSD, with yields credited in real-time.

Interested friends can give it a try:

Documentation: