With the launch of Carbon stablecoin, one of the Cosmos' first native stablecoins, let's look at how it can benefit SWTH holders.
Some context before we begin.
At Switcheo, we focus on empowering the future of finance by supporting the creation of sustainable and value-added products that help users from all over the world improve their finances.
At Switcheo, we focus on empowering the future of finance by supporting the creation of sustainable and value-added products that help users from all over the world improve their finances.
One of the biggest use cases in finance is lending and borrowing, worth trillions of dollars. That's why Carbon, an app chain on Cosmos, created Nitron - a money market where people can lend or borrow against their idle assets to make them more useful.
With the launch of Nitron, people can lend and borrow assets from Cosmos to Ethereum and beyond without asking for permission.
This launch brings Carbon closer to being an all-in-one hub for DeFi that lets users enjoy everything it has to offer.
This launch brings Carbon closer to being an all-in-one hub for DeFi that lets users enjoy everything it has to offer.
But there can't be a fully decentralized economy without a decentralized stablecoin.
That's why we're also launching the Carbon stablecoin $USC at the same time.
That's why we're also launching the Carbon stablecoin $USC at the same time.
What is the Carbon stablecoin?
The Carbon stablecoin is a native Cosmos stablecoin that is overcollateralized and permissionless. It is soft-pegged to the USD and governed by SWTH holders.
The Carbon stablecoin is a native Cosmos stablecoin that is overcollateralized and permissionless. It is soft-pegged to the USD and governed by SWTH holders.
How does USC maintain peg?
USC is backed by blue-chip collaterals with deep liquidity, before phasing in other assets such as liquid staked derivatives through governance.
If the collateral falls in value, the loan will be liquidated to ensure USC remains overcollateralized.
USC is backed by blue-chip collaterals with deep liquidity, before phasing in other assets such as liquid staked derivatives through governance.
If the collateral falls in value, the loan will be liquidated to ensure USC remains overcollateralized.
Why are you accepting USDC as collateral?
USDC is accepted as collateral because many users hold USDC and would want to have the most flexibility on how they use the Carbon money market, including depositing USDC as collateral and borrowing other assets.
USDC is accepted as collateral because many users hold USDC and would want to have the most flexibility on how they use the Carbon money market, including depositing USDC as collateral and borrowing other assets.
USC will have a growing list of features:
• Low-interest rates for minting Carbon stablecoin
• Amplified pool with other stablecoins for LPs
• Arbitrage opportunities for risk-free profits
• Enabled as margin for trading perps
• Supply to borrowers for yield on USC
• Low-interest rates for minting Carbon stablecoin
• Amplified pool with other stablecoins for LPs
• Arbitrage opportunities for risk-free profits
• Enabled as margin for trading perps
• Supply to borrowers for yield on USC
How do you mint the Carbon stablecoin?
Users put up whitelisted collaterals onto Nitron to mint the Carbon stablecoin, and they can get their collateral back by burning the stablecoin.
Users put up whitelisted collaterals onto Nitron to mint the Carbon stablecoin, and they can get their collateral back by burning the stablecoin.
In summary, Carbon stablecoin is a key pillar for the Carbon ecosystem and may help boost SWTH market cap at just $10 million.
Its introduction will be a huge milestone for Carbon and will add more utility for SWTH stakers as we build towards being the best cross-chain DeFi hub.
Its introduction will be a huge milestone for Carbon and will add more utility for SWTH stakers as we build towards being the best cross-chain DeFi hub.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
