Stable Tokens
Stable Tokens Demystified: Navigating the Landscape, Understanding Uses, and Unveiling the Mechanics
Unlocking Stability: Acquiring stable tokens involves purchasing from the stable token's bank using reserve assets. These assets, sent to the stable token's bank, serve as the cornerstone, backing the stable token's intrinsic value.
With 22 stable tokens on Unit Network, this alternative offers respite from the short-term volatility of mainstream cryptocurrencies. Moreover, it provides a straightforward payment solution for both users and merchants.
Clarity in Support
Every stable token on Unit Network employs a uniform collateral and pegging mechanism, devoid of algorithms. Backed by diverse reserve assets that appreciate over time, these stable tokens benefit from over-collateralization. Users have real-time transparency, accessing information on the total backing value, asset distribution, and more.
Functional Versatility
While USDU stands as the primary stable token on Unit Network, all stable tokens share identical functionality and can fulfill the same purposes. USDU is instrumental for:
Purchasing any token or reserve asset from the exchange.
Liquidity Pool staking.
Accruing in the UNIT Treasury, constituting a 0.5% fee from all platform exchanges.
Offering stability in comparison to user-generated tokens as a reliable medium of exchange or payment.
In addition to USDU, there are 22 other stable tokens, each representing a major currency. Explore the comprehensive list below.
USDU: United States Dollar
GBPU: British Pound
EURU: Euro
AUDU: Australian Dollar
CADU: Canadian Dollar
BRLU: Brazilian Real
ZARU: South African Rand
TRYU: Turkish Lira
RUBU: Russian Ruble
JPYU: Japanese Yen
SGDU: Singapore Dollar
NOKU: Norwegian Krone
MXNU: Mexican Peso
PLNU: Polish Zloty
INRU: Indian Rupee
SEKU: Swedish Krona
NZDU: New Zealand Dollar
HKDU: Hong Kong Dollar
CNYU: Chinese Yuan
CHFU: Swiss Franc
KRWU: South Korean Won
IDRU: Indonesian Rupiah
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