HERMES is an algorithmic stablecoin on Avalanche C Chain, pegged to the price of 1 AVAX via seigniorage. HERMES token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain HERMES peg of 1 HERMES = 1 AVAX in the long run. Note that HERMES actively pegs via the algorithm, it does not mean it will be valued at 1 HERMES : 1 AVAX at all times as it is not collateralized. HERMES is not to be confused with crypto or fiat-backed stablecoin.

HERMES

HERMES is an algorithmic stablecoin on Avalanche C Chain, pegged to the price of 1 AVAX via seigniorage

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Historical Data for HERMES