General
Last updated
Last updated
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.
At this stage:
Borrow RUSD against CKB or BTC by opening a vault
Redeem 1 RUSD for 1 USD worth of CKB/BTC
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.
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.
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
