from cryptocurrency market analytics company, Footprint Analytics. This has been fueled by a surge in development and investment into the space, triggering a need for stable assets to underpin evermore volatile asset pairs. Consequently, there has been a rise in the number and value of stablecoins in the cryptocurrency market. Currently, there are 74 stablecoins according to the latestThe most popular stablecoin, Tether, operates several fiat-stablecoin pairs, including USDT, EURT and GBPT.
Allowing for full, inexpensive independent monitoring as well as a lack of need to trust the word of a guarantor.There are two main tokens that feature in this rebasing mechanism, $CHARGE, and $STATIC. $CHARGE functions as the share/seigniorage token in the Charge DeFi ecosystem, and $Static as an elastic supply coin.
During such a “compression” all tokens in circulation are compressed, including those in a user’s wallet and inside liquidity pools. Only unclaimed tokens in the project’s boardroom are exempt.You have 1k $STATIC tokens in your wallet, worth $1000 The rebase starts and $STATIC tokens are compressed The reason Charge DeFi implemented these mechanics lie in the core issue that traditional Algorithmic cryptocurrency suffers from: When a token drops below a $0.6-0.
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