RevenantLabs

RevenantLabs

Created using Figma
Created using Figma
Launched by the team at Revenant Finance (formerly StakeSteak) on 8 January 2022, Creditum is a lending and borrowing protocol within the Fantom Ecosystem that allows users to borrow (or mint) cUSD, a stablecoin pegged at $1 USD, by posting different tokens as collateral. With access to cUSD, users are able to earn an annualized percentage yield (APY) on available farms to earn CREDIT, while maintaining exposure and gain access to other benefits as future projects are launched.
  • Market
    Pair
    Price
    Volume 24H
    24H (price)
    24H (volume)
  • SpookySwap
    CREDIT/0XC165D941481E68696F43EE6E99BFB2B23E0E3114 4 months ago
    $ 0.8377
    $ 74.32
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To be announced
Token Details
Ticker
CREDIT
Total supply
50,000,000
Token Distribution
8,584,575 CREDIT to RVNT holders = ~17.2%
32,900,000 CREDIT to Treasury and Emissions = 65.8%
8,515,425 CREDIT for Team Allocation = 17%
Additional Details
Categories
Platform

About RevenantLabs

The Fantom network still lacks a functional native stablecoin. With cUSD, the Revenant Finance team hopes to fix that. Initially, cUSD has been released independently to prove its functionality at keeping cUSD pegged to $1 USD. Eventually with the cooperation of the Fantom Foundation, cUSD will be able to migrate from the old fUSD to finally introduce a functional native stablecoin to the Fantom Ecosystem.

Importance of cUSD

Initially, cUSD has been released independently to prove its capability of maintaining peg at $1 USD and act as a functional stablecoin. Eventually, cUSD will become the fundamental token that builds up Singularity Swap. Singularity Swap is the next project that will be released by the team at Revenant Finance.

How is cUSD pegged at $1?

Since Creditum requires overcollateralization — whereby the value of a user’s posted collateral to borrow cUSD exceeds the value of cUSD borrowed — each cUSD unit is backed by at least $1 USD in collateral. This allows the protocol to liquidate users’ collaterals in the event of market downturns, ensuring cUSD’s solvency, and thus, keeping cUSD pegged at $1 USD. In short, the value of the assets received by the protocol from users who mint cUSD is far greater than the value of its liabilities, and, as such, the protocol remains solvent at all times.

Activity

Followers:
8 780
HIGH
Tweets:
599
VERY HIGH
30 Days Growth:
-92
Year commits:
107
Watchers:
1
Stars:
1
Forks:
3
Open issues:
0

RevenantLabs Last News

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CREDIT
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