Quickswap
Quickswap
Quickswap
Throughout the short "history" of Algorithmic Stablecoins (also referred to as “Seigniorage Stablecoins”), we observed a common trend of staying relatively "stable" around 50 cents rather than the targeted 1 US Dollar from various projects. As many algorithmic stablecoins have failed to maintain their peg with 1 US Dollar, the team revisioned the goal for our token to stay as stable as possible by compressing the peg threshold down to 50 cents. 50 cents is also a good starting point for our services, including the lottery or NFT marketplace. Imagine a place where you can sell or buy NFTs with the minimum starting bid of just 50 cents! Or buying lottery tickets that only cost half a buck per pop but can potentially win you millions! EACH! The possibilities are endless...
- "Expansion": A percentage of the total 50C supply is minted. The minted 50C is given to users who staked their 50K (50 Cent Keeper)
tokens depending on how many 50K they staked.
- "Contraction": 50C minting is stopped. Instead, 50B tokens (bonds) are available for sale. Users can buy 50B with 50C. For 1 (one) 50B bought, 1 (one) 50C is automatically burnt. The Tax will also be significantly higher during this time.
- 50B tokens can’t be redeemed (convert to 50C) when TWAP of 50C is under $0.5, but they can be whenever TWAP of 50C goes back over $0.5.This is a premium mechanism incentivizing users to buy bonds and helping the price to get back above its peg.
