USD+ Token
A risk-minimised USDC-pegged crypto asset backed by an underlying basket of USD stablecoins.
USD+ is the main token of the protocol, ERC20, and a rebased stablecoin.
The pegging mechanism is based on the ‘NAV of 1’ policy (“Net Asset Value”), i.e. market value of assets equals the amount of USD+ in circulation. This is achieved by:
- Conservative risk management aims to avoid daily losses by building a diversified portfolio of highly conservative DeFi Investments
- Daily distribution of profits in the form of a rebase to USD+ holders; all yield collected by the USD+ reserves are distributed to USD+ holders directly by increasing their wallet balance once a day
Use a liquidity index reflecting the current ratio of the number of issued USD+ tokens to the volume of assets on strategies (
Strategy
), expressed in USDC. Internally, balances are stored in RAY (usingWadRayMath
), which allows you not to worry about the accuracy of working with balances when mint / redeem / balanceOf. The liquidity index is adjusted when the payment process is started onExchange.payout()
on behalf ofExchange
. Access tomint()
andredeem()
is only available toExchange
.
The external function
exchange()
make it possible to get the current Exchange
address for making mint/redeem.Last modified 9mo ago