Stable Token

FintraDAO Token

FDT is a native stablecoin on FintraDao that is fully decentralized, collateralised, and pegged 1 : 1 with USD. It also has algorithmic element to it since users mint FDT tokens against their supplied collaterals.In terms of collateral, FDT is backed by a basket of cryptocurrencies chosen at the users’ discretion.Ultimately, stable-coins provide a predictable unit of value that can used frictionlessly throughout the Web3 economy and can facilitate more usage for defi protocols and DApps across different blockchain .

In term of FintraDao launch of FDT , this move has broader implications for Defi protocols throught the ecosystem.In specific, FDT developement can be thought of as a secondary revenue generating function of the protocol, which operates independently and in the background of the protocol’s core business .Moreover , all of the revenue generated by this secondary function is captured directly by the protocol and flows back into treasury.

Last updated