Tokens
In this section, we will examine all of the Tokens that are emitted by Stable, one by one, including Stablecoins, RWA Tokens, Stable token (STE), and staked Stable token (veSTE).
STE token
The Stable token (STE) is utilized for revenue sharing, requiring users to stake STE tokens for veSTE in order to be eligible for a share of 10% of the platform's profits, which are claimable in stablecoins.
For every transaction that occurs on our subnets, we will set aside 10% of the transaction fee to purchase STE tokens from the open market. Users will then be given the opportunity to vote on whether these tokens should be burned, or redirected towards Defi mining or treasury for development purposes. This event will occur on a monthly basis, at a minimum.
Distribution of STE
The distribution of STE will follow a structured vesting schedule to demonstrate our commitment to the project. Team members, advisors, and investors will have varying lockup periods, ranging from 3 to 12 months, with linear daily vesting for 1 to 3 years following the cliff period. STE follows a linear inflation schedule.
The maximum number of tokens that will be created is 3,500,000,000. As for the Token Distribution, it will be as follows:
VESTING SCHEDULE:
Team: 0% unlock at TGE, 12 months cliff lockup followed by 36 months of linear daily vesting.
Pre-seed investors: 2% unlock at TGE, 10 months cliff lockup followed by 26 months of linear daily vesting.
Future investors pool (seed): 0% unlock at TGE, 8 months cliff lockup starting from the day when the agreement is signed in the future, followed by 22 months of linear daily vesting.
Private sale: 4% unlock at TGE, 6 months cliff lockup, followed by 18 months of linear daily vesting.
Public sale: 20% unlock at TGE, 0 months cliff lockup, followed by 6 months of linear daily vesting.
Advisors: 0% unlock at TGE, 10 months cliff lockup followed by 24 months of linear daily vesting.
Treasury: 0% unlock at TGE, 5 months cliff lockup, followed by 36 months of linear daily vesting.
Liquidity: 22% unlock at TGE, 4 months cliff lockup followed by 22 months of linear daily vesting.
STE has 45% of the circulating supply that will be generated through a liquidity mining program across the DeFi ecosystem. The liquidity mining program inflation is reduced by 20% yearly, starting at 315M tokens minted in the first year with t->∞ until the maximal supply of ~ 3.5B tokens is reached, and inflation stops. Each time the inflation reduces, a new mining epoch starts. All of the inflation is distributed to Stable and RWA pools (pools where our stablecoins and RWAs are paired) liquidity providers across Defi ecosystems, according to measurements taken by the gauges votes by our governance each week.
STE Listing
STE token generation event(TGE) will take place on the Ethereum network via Uniswap, with plans to expand our trading presence to other decentralized exchanges, such as Trader Joe, PancakeSwap, and Quickswap, as we embrace a multichain future. Additionally, we aspire to be listed on leading centralized exchanges, including Binance, Coinbase, Kucoin, and Kraken.
The initial price of the STE token will be determined through a launch pairing, which will consist of 59,125,000 STE paired with X* USDT tokens. Following the launch, the token price will be subject to market forces and market demand, reflecting the organic dynamics of supply and demand.
****We will clarify the listing price based on the amount raised from the public sale of STE tokens.****
Users can obtain STE tokens through three methods.
The first is by purchasing from a liquidity pool after the TGE.
The second is to supply stablecoin liquidity to our stable pools on Curve.fi or other stable swap D-Apps or dexes where we run liquidity mining programs.
The third is to purchase STE tokens in the public sale before the initial TGE event.
veSTE tokens
By staking STE, you can receive veSTE. Every hour, you will get 0.00672 veSTE for every STE you stake. The maximum amount of veSTE you can receive is 180-times the amount of STE you staked, which takes 36 months to reach your maximum, or you have the ability to lock it for a predetermined period of time and get veSTE tokens upfront. If you stake more STE, you will get more veSTE. However, if you decide to unstake, you will lose all your veSTE.
Users with veSTE will have voting power for gauges votes by our governance each week to decide about future emission allocation of STE for the following week. They will also be eligible for bribes from voting, and revenue share in our stablecoins. We will be adding more use cases along the way.
Stablecoins
Stablecoins from Stable serves as a versatile asset within the decentralized finance & cryptocurrency ecosystem, allowing for various uses such as a medium of payment, farming, collateral, and swapping on decentralized exchanges. Our primary focus, however, is utilizing stablecoins as a means of exposure for minting and redeeming various tokenized assets, such as ETFs, government bonds, corporate bonds, investment funds, and other yield-generating assets.
In other words, users will have the ability to buy (mint) RWAs with them or sell (redeem) RWAs for them. We are also expanding the use of our stablecoins by creating subnets that function as payment networks.
These subnets use stablecoins as gas tokens and have low transaction fees. This initiative aims to make it easier for retail stores and e-shops to connect to our stablecoins and facilitate day-to-day payments.
Stablecoin issuance is straightforward as they are backed 1:1 with the relevant fiat currency. The tokens are minted in response to user actions, such as sending fiat currency and having the payment credited to our account.
In addition, with a focus on transparency and 1:1 asset backing, each StUSD token (and other currencies) are fully backed by an equivalent amount of U.S. dollars or other currencies. This means that StUSD can be redeemed for USD at any time. Platform's reserve holdings are fully transparent and reported through Chainlink Proof of Reserve.
Practical Application:
For instance, if StUSD is trading at 0.95 on Curve, a user may purchase the token at 0.95 and redeem it for USD at a rate of 1 token for 1 USD. To participate in the minting or redemption of our stablecoins, users must first register on our platform. We will support SEPA, SWIFT, and additional payment methods such as card payment providers and PayPal will be added at a later stage.
Here's a brief overview of the tokenization process from X Currency to StUSD (the user can convert to another currency instead of StUSD):
A user sends X USD currency to Stable's bank account.
Stable mints an equivalent amount of StUSD through their respective smart contracts.
The newly minted StUSD tokens are then delivered to the user, while the X currency is securely held in Stable's bank account.
To redeem StUSD tokens for X currency, the reverse process is applied, and the StUSD tokens are burned and removed from circulation.
Stable will launch on the Ethereum network and establish our initial trading pair on Curve.fi, where StUSD will be paired with USDC & USDT. This trading pair will coincide with the launch of STE mining emission and be supported by liquidity bootstrapping.
As Stable pursues a multichain strategy, we will deploy our stablecoin to additional Curve pools on various chains and participate in other stable-swaps, such as Platypus on Avalanche or Wombat on Arbitrum. Additionally, we aim to be listed on prominent centralized exchanges, such as Binance, Coinbase, Kucoin, and Kraken.
Real-world financial assets tokens
RWA Tokens serve as a representation of the value and ownership of the assets or securities that the user bought using our stablecoins. These tokens are transferable and will be able to be used as collateral in lending markets or in over-collateralized stablecoins, maximizing yield through the looping process, and giving more freedom and flexibility over your investments.
In addition, with a focus on transparency and 1:1 asset backing, each RWA token is fully backed by an equivalent amount of assets that is representing. This means that 100 StTSLA tokens are backed by 100 TSLA shares in our custody, which is reported through chainlinks proof of reserve.
RWA Tokens will be obtained through RWA contracts in our RWA service, where you will need to use our stablecoins to mint RWAs assets or securities like ETFs and stocks that you desire or redeem RWAs to receive stablecoins back. Each token will represent a single asset that has been staked for and will be required for the later redemption of the corresponding stablecoin. The supply of tokens will follow user actions and will start at 0 with no pre-minted tokens.
Regarding the RWA Tokens, their emission is linked to the user's actions.
Here's a brief overview of the tokenization process for any RWA we will offer:
A user is putting X StUSD (for example) into an RWA contract, which represents SGOV ETF, and by that user is buying Y SGOV shares at market price.
X amount of StUSD is burned and Stable is buying Y SGOV shares at market price for a user.
As soon as Stable asset custodial is holding Y SGOV shares, The contract is automatically minting Y StSGOV tokens for the user.
To redeem Y StSGOV tokens for X StUSD, the reverse process is applied, and as soon as the Y StSGOV tokens are burned and removed from circulation, Y SGOV shares are sold and an equivalent amount in StUSD is minted.
Last updated
