General

What is Stable++?

Stable++ is the very first RGB++ based, over-collateralized stablecoin protocol to be used in conjunction with BTC and CKB, using BTC and CKB as collateral while USD-pegged stablecoin RUSD is minted in return, which leverages the leap function of RGB++, allowing assets transfer within the Bitcoin ecosystem freely.

With the powerful programmability and Turing completeness of CKB-VM, Stable++ is able to build over-collateralized vaults and efficient liquidation modules, ensuring a robust and secure stablecoin ecosystem.

What can I do with Stable++ ?

At this stage:

1. Borrow RUSD against CKB or BTC by opening a vault

2. Redeem 1 RUSD for 1 USD worth of CKB/BTC

Key features of Stable++

• Decentralized

  CKB-VM and CKB cell model fully supports running smart contracts. Once deployed, the contracts remain immutable and cannot be altered at any time by anyone. As a result, users can safely and confidently interact with Stable++, knowing that the integrity of the system is maintained.

• Modularized liquidation

  The liquidation mechanism runs automatically by the smart contracts ensuring that the liquidation process is efficient and minimizes losses, enhancing the overall stability and reliability of the Stable++ protocol.

• Capital efficiency

  Modularized liquidation mechanism allows the system to maintain a lower Minimum Collateral Ratio (125% for BTC and 130% for CKB) without compromising stability and security. Thus borrowers can leverage their assets more effectively, requiring less collateral to access liquidity.

Price stability

Stable++ utilizes a robust oracle service for USD:CKB/BTC price feed, ensuring that RUSD can always be redeemed for CKB/BTC at face value. Stable++ also treats RUSD as being equal to USD. Given that, RUSD can maintain its price within a reasonable range.

When the price of RUSD exceeds USD, any user or outside opportunist can borrow RUSD from Stable++ and sell it, decreasing the price.

Conversely, when the price of RUSD falls below USD, any user or outside opportunist can buy RUSD from DEXs and redeem BTC/CKB from Stable++, restoring the price to parity.

Still cooking

To better enhance the ability and capability of Stable++, more features and functions are also undergoing and will be live very soon. These additions are designed to provide users with more options and benefits, ensuring a more robust and rewarding experience.

• Stability Pool: Providing RUSD to the Stability Pool in exchange for rewards from liquidation and support the Stability Pool Liquidation mechanism.

• Staking: Staking secondary token STB to earn the fee revenue paid for borrowing or redeeming RUSD