Need a reliable, decentralized, and immutable stablecoin protocol on Cardano? Introducing $OBYUSD 🔥

Some questions. What's your ADA/OBYUSD collateralization ratio, and how does the protocol handlle ADA price volatility? In other words, if ADA drops 50% in a week how does OBY maintain it's value peg?

1 ) The protocol requires a minimum collateralization ratio (MCR) of 130% at all times, meaning that for every $100 worth of OBYUSD minted, users must lock at least $130 worth of ADA as collateral. 2 ) Obymare utilizes a combination of soft and hard peg mechanisms to maintain the $1 value. When $OBYUSD trades above the peg, arbitrageurs can generate profits by minting new $OBYUSD at a lower cost and selling at the higher market price, which naturally drives the price downward. If the price falls below $1, the hard peg mechanism allows users to redeem $OBYUSD for ADA at full face value (minus a redemption fee), reducing the circulating supply and creating upward price pressure in the market. 3 ) Even during the most dangerous scenarios, such as chain congestion and flash crashes, the protocol implements a Critical Collateralization Ratio (CCR) of 103%. If a position falls below this threshold, liquidators can stabilize the system and receive compensation of up to 105% of the owed debt, paid from the $OBYIII treasury which acts as the last line of defense against bad debt in the system. Our upcoming Litepaper will detail exactly how $OBYUSD is able to ALWAYS maintian its $1 USD peg.

Finally! 🔜🔛🔝

Only the beginning!

DJED has some competition. Let’s gooo.

No competition – we're simply here to help, work together, and provide a different solution. 🤝 :)

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Really intriguing concept 🔍

Great job

Cheers team 🫡