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UNO is the StarkNet-native decentralized USD stablecoin

What is UNO?

UNO is the first StarkNet-native stablecoin. UNO aims to be the stablecoin of choice within the StarkNet ecosystem. Pegged to the US Dollar, UNO is fully backed by high-quality censorship-resistant crypto assets, with deep liquidity across many market pairs and a stable peg. Upon deposit of ETH into Nostra Money Market, it will be converted into iETH-c to be used as collateral to mint UNO, providing the benefit of compound interest while using the UNO stablecoin.

UNO will have the following key features:

  • Soft peg to US Dollar 
  • Decentralised and censorship-resistant 
  • Immutable contract deployment
  • Crypto-backed 
  • Over-collateralised 
  • Interest-bearing collateral (iETH-c).

UNO is minted via Nostra's Money Market's collateralised borrow. iETH-c tokens will be the collateral used for the borrow. These are ETH tokens deposited into a user's Nostra account available for lending out and using as collateral. Every iETH-c is backed by 1 ETH. A user can specify the amount of UNO they would like to borrow based on the USD price, Collateralisation Factors and UNO's Debt Factor. For every UNO borrowed, this UNO is automatically minted via UNO's fully decentralised smart contracts.

Use cases of UNO:

  • UNO will be the stablecoin of choice for DeFi users on StarkNet
  • UNO aims to become a medium of exchange in the real economy
  • UNO can be incorporated into crypto-gaming in many ways, for example: in-game currency; marketplace currency.

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