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Stablecoin
STATIK Price
General Info
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Avalanche C-Chain
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Description
STATIK is the name of the Thorus protocol stable coin and it represents a core asset of the whole platform
Statik (STATIK) Chart
What is Statik (STATIK)?
STATIK is the name of the Thorus protocol stable coin and it represents a core asset of the whole platform. How does it work:
- The user deposits 1 USDC.e as collateral, using the platform UI.
- Protocol mints 1 STATIK that the user needs to Claim.
- Protocol deposits 0.8 USDC.e into the Treasury.
- Protocol uses the remaining 0.2 USDC.e to market buy THO and deposits that into the Treasury as well.
- When the user chooses to Redeem their collateral, they return STATIK (which gets burned - taken out of circulation) and receive USDC.e back.
STATIK is fully crypto-backed since 100% of its value in collateral will be redeemable at any time. However, it does not require overcollateralized on mint. STATIK will be minted using USDC.e 1:1.
Thorus is an all-in-one cross-chain DeFi Platform with an adaptable treasury system, and a token holder first approach.
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