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
  4. What Are STABLEcoins

STABLEcoin Backing

How are STABLEcoins backed on Stable.

Stable Labs adheres to a transparent approach and a strict 1:1 fiat backing policy. This approach ensures that users can trust the stability and security of their fiat-denominated tokens, knowing that each token is fully backed and transparently managed.

Key Features

  • 1:1 Fiat Backing:

    • Each fiat-denominated token is fully backed by an equivalent amount of the respective fiat currency.

    • Examples include Euro backing for EURI and CNY backing for CNYI.

  • Proof of Reserve:

    • Reserve holdings are transparently disclosed via the Chainlink Proof of Reserve Oracle.

    • A link to the Proof of Reserve will be provided at the time of mainnet deployment.

  • Treasury Management:

    • Tokens held in the stablecoin treasury contract are unbacked and not in circulation.

    • The treasury acts as a staging ground for stablecoins, which are sent into circulation upon receiving a minting request from a client.

  • Segregated Reserves:

    • Reserves backing the stablecoins are kept separate from Stable Labs's or Genify's operational resources.

    • This segregation follows guidelines set by the EMI license and relevant regulatory authorities.

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Last updated 6 months ago