Polaris at $0TVL Hour: A Bonding Curve-Based Stablecoin Operating System for DeFi

Thu, Apr 2, 2026, 12:00 AM

Laurens from Polaris presents a reserve-centred DeFi architecture designed to improve how decentralized stablecoins scale. The pitch introduces Polaris across three layers: collateral, stablecoin design, and governance. It covers the protocol’s ETH-based bonding curve, the logic behind pUSD, autonomous interest rate setting, direct minting and redemptions. The Q&A focuses on oracle design, bonding curve manipulation risk, arbitrage assumptions, and comparisons to earlier algorithmic stablecoin models.