What’s a stablecoin?: USTN

Stablecoins are digital assets pegged to the value of an underlying fiat currency at a 1:1 ratio built to reduce the volatility commonly associated with crypto assets. Not only do they serve as a store of value and an investment hedge, but simplify engagement in on-chain endeavors like Decentralized Finance. There are four primary stablecoin types identifiable by their underlying collateral structure: fiat-backed, crypto-backed, commodity-backed and algorithmic.

Each type of stablecoin has their own level of risks, advantages and disadvantages.

• Fiat-backed stablecoins maintain reserves in fiat currencies. For every token, they have the equivalent in cash reserves. The fiat currency which serves as collateral to a stablecoin — the most common being USD — is held off-chain, which requires users to trust that the fiat reserves are properly managed and audited. An example is BUSD which has monthly auditing of reserves and cash.
• Crypto-backed stablecoins are backed by another cryptocurrency as collateral. This process occurs on-chain and uses smart contracts instead of relying on a central issuer. When purchasing this kind of stablecoin, you lock your cryptocurrency into a smart contract to obtain tokens of equal representative value. Real Example is DAI.
• Commodity-backed stablecoin are collateralized using physical assets like precious metals, oil, and real estate. The most popular commodity to be collateralized is gold; Tether Gold (XAUT) and Paxos Gold (PAXG) are two of the most liquid gold-backed stablecoins. However, it is important to remember that these commodities can, and are more likely to, fluctuate in price and therefore have the potential to lose value.
• Algorithmic stablecoins do not use fiat or cryptocurrency as collateral. Instead, their price stability results from the use of specialized algorithms and smart contracts that manage the supply of tokens in circulation.

USTN

USTN is a 100% USDT-backed stablecoin issued on Turtle.Network blockchain. USTN Mint and Burn mechanism is based on dApp RIDE smart contract guaranteeing each USTN is backed by one USDT.

dApp ADDRESS: 3JxoVrdvCFmpKAyssV7KW8rVxcX4wWovEES

USTN will have 6 decimal places.

USTN Mint Function: User deposits $USDT to mint equal amount of $USTN.

Minimum Minting: 0.01 $USTN
Maximum Minting: No-Limits
USTN Minting Fee: Nil

USTN Burn Function: User deposits $USTN to convert them back into $USDT.

Minimum Burning: 0.01 $USTN
Maximum Burning: No-Limits
USTN Burning Fee: 1%

POWERED by TRADECOIN

TN Tradecoin Node

Tradecoin Node has offered TN community staking services since 2018. It has always believed Turtle.Network to be a promising network offering great tools and SmartContract capabilities. A4ADAO and Tradecoin have stumbled on the same journey across Turtle.Network delivering utilities to TN community.

Before, TN Tradecoin Node only distributed $TN and $DVPN bonus to its leasers. This will no longer be. The time has come for Turtle.Network’s own native stablecoin: $USTN.

Lease $TN to Tradecoin Node to earn $USTN

Node Alias: tradecoin_node
Node Address: 3Jq253hGqy5nJr2D7JhKKjLYF8zNngEJAtm

New REWARD STRUCTURE for TN Tradecoin Node Leasers:

$USTN is being distributed daily to Tradecoin Node Leasers as of now.

Amount of $USTN distributed depends on following conditions:

• When Daily Reserve >= TN Fee Collected from Leasing, complete amount will be distributed in USTN.
• When Daily Reserve < TN Fee Collected from Leasing, Daily Reserve amount is being distributed in USTN as per daily limit and difference in TN will be distributed to leasers.

Daily Reserve will vary depending in market conditions. Leaser will never get less value than what TN fees collect.

$DVPN bonus will have no impact.

Amount of daily $USTN will be calculated against daily average price of DEXs and multiple AMM service providers.

By distributing $USTN to leasers, A4ADAO believes it will bring easier adoption to the first native stablecoin in Turtle.Network.

“Slow and steady wins the race!” — The Tortoise

USTN: LOOKING AHEAD INTO THE FUTURE

EARN APY
Staking $USTN will allow users to stake their USTN to earn interest in USTN. This smart contract will allow users to deposit and stake $USTN locking the funds while earning APY.

*more details will be given once staking dApp is live.

RIDE V5
Once RIDE V5 is live TN Tradecoin Node leasing will be available through dApp. A4A and fsTN will also be leasing its respective TN to Tradecoin Node and users will receive $USTN in their address.

Let’s CODE!!..

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