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

- Channel: [Stable Summit](https://streameth.org/stable_summit)
- Date: 2026-04-09
- Duration: 12:59
- Watch: https://streameth.org/watch/yt-pMyw8K9mikU
- YouTube: https://www.youtube.com/watch?v=pMyw8K9mikU

## Description

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.