Stable-Documentation
  • Introduction to Stable Labs
    • What Problems Does Stable Labs Solve
    • Common use cases
  • Legislation, Trust & Security
  • Getting Started With Genify
    • How it Works
      • Tokenization
        • Minting and Reedeming
          • Utilizing STABLEcoins
          • Utilizing Third-Party Fiat-Backed Stablecoins
        • Asset Pegging Mechanism
        • Backing
      • Stablecoins
        • What Are STABLEcoins
          • Stablecoin Minting & Redeeming
          • STABLEcoin Backing
          • Regulation
    • Fee Structure
  • Join our Community
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  1. Getting Started With Genify
  2. How it Works
  3. Stablecoins

What Are STABLEcoins

STABLEcoins issued by Stable Labs and minted through Genify all maintain a fixed 1:1 peg with their respective fiat currencies during minting and redemption.

For example, 1 USDI = 1 USD, and 1 EURI = 1 EUR.

Key Features

  • 1:1 Peg: Each STABLEcoin is pegged to its respective fiat currency, ensuring stability.

  • Backing Reserves: These STABLEcoins are backed by cash or cash-equivalent reserves held in a bankruptcy remote structure.

  • Regular Audits: Reserves are subjected to regular audits by established independent auditors.

  • Proof of Reserve: Transparent reporting via Chainlink’s publicly available Proof of Reserve (PoR) Reports ensures reliability.

  • Chain agnostic: All of our stablecoins have CCIP integrated and can be minted on all chains where CCIP is live regardless of if it is EVM or alternative VM Blockchain.

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Last updated 6 months ago