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HTC.CASH - ​The First Algorithm Stablecoin Pegged to HT on Heco Chain

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Written by   72
10 months ago
Topics: Altcoins, Defi, Earn crypto, Ethereum, ETH, ...

Cryptocurrency has grown quite significantly in recent years. This development made cryptocurrency better and could be applied to more complex financial cases. An example is a stablecoin, this is a cryptocurrency with a stable price and is usually supported by assets such as gold or others. Stablecoins arise as a result of volatile cryptocurrency prices. With the existence of stablecoins, people can invest in cryptocurrency without worrying about price fluctuations, because usually, stablecoins have their own mechanism, for example, USDT follows the price of USD or GOLD tokens which follows the price of gold.

Talking about stablecoins, maybe you will be interested in this project. This is an innovative stablecoin project that is pegged to HT and has improved its base protocol. This is HTC.CASH - is a stablecoin algorithm pegged to HT on Heco Chain, which will inevitably be needed to meet the growing demand for transactions.

HTC.CASH: ​The First Algorithm Stablecoin Pegged to HT on Heco Chain


There are many stablecoins on the market today, for example, the most popular is USDT, this is a stablecoin whose price follows USD dollars. This stablecoin is directly supported by USD with its own mechanism, which allows the price to remain stable and follow the USD Dollar.

And, HT ANCHOR CASH or for short as HTC.CASH is a stablecoin pegged to HT which is built on the Heco Chain and based on an algorithmic mechanism that makes the price stable. HTC.CASH builds on the demand for transactions in the HECO ecosystem. Because it is well known that the Huobi Ecological Chain (HECO) ecosystem has developed quite significantly in recent times so that stablecoins such as HTC, CASH are needed to meet the growing demand for transactions.

HTC.CASH is built on the HECO chain ecosystem which has lower fees and faster transaction processing compared to Ethereum. And the reason HTC.CASH is not pegged to USD dollars or GOLD is that it will depreciate with the inflation of anchors so that HTC.CASH is pegged to HT tokens because the amount of HT is constant and without devaluation problems, and several other reasons that make HTC.CASH better to be pegged to HT token.

HTC.CASH Stabilization Mechanism


As explained earlier, HTC.CASH has a mechanism that will make the price of HTC.CASH stable. Following are the mechanisms that will be triggered when the price of HTC.CASH changes;

  • When HTC is traded below 1 HT, users can buy HTB at a certain discount to stabilize the HTC price. Later users can expect future profits upon redemption.

  • When HTC is traded exceeds 1.1 HT, the bond redemptions will be triggered. If HTC's price continues to exceed 1.1 HT even after the bond redemptions, then HTC will be minted to drop the price.

HTC.CASH Token


HT ANCHOR CASH protocol launches 3 types of tokens that have their respective roles. First is the HTC (HT ANCHOR CASH) which is the main token of the HTC.CASH protocol. The second is HTS (HT ANCHOR CASH Share) which users can get by providing liquidity to the pool and this can also be used by users for staking. And the third is the HTB (HT ANCHOR CASH Bond) bond which will be issued when the coin price is below 1 HT and when the HTC price passes 1.1 HT, HTB token holders can exchange HTC back at a ratio of 1: 1.

In Conclusion


Currently, the capitalization of the stablecoin market is around $ 35 Billion dollars and this amount will continue to increase as the crypto market develops. The reason many people invest in stablecoins is to avoid price fluctuations because it is well known that the prices of popular cryptocurrencies tend to be volatile.

HTC.CASH is the world's first stablecoin algorithm that is pegged to the HT token on Heco Chain. HTC.CASH is here as a stablecoin that will meet the growing demand for transactions. With an algorithmic mechanism, it allows HTC.CASH prices to be stable and without devaluation problems. Because it's different like the popular stablecoins pegged to USD which could depreciate, HTC.CASH is pegged to a constant number of HT tokens, so there is no devaluation problem.

Keynotes


  • HT ANCHOR CASH, which pegged to HT and is an improved version of Basis Protocol.

  • HTC.CASH has a mechanism that will make the price of HTC.CASH stable.

  • When the price of HTC exceeds 1.1 HT, HTB holders can exchange HTC back at a ratio of 1:1

Connect

WEB: https://www.htc.cash/
TELEGRAM: https://t.me/HTC_CASH
TWITTER: https://twitter.com/HtcCash

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Written by   72
10 months ago
Topics: Altcoins, Defi, Earn crypto, Ethereum, ETH, ...
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