What Is Stabilize Token (SET)?
Stabilize Token (SET) Stabilize is a decentralized borrowing protocol that allows you to draw interest-free loans against Crypto-Assets( basic asset & ibTKNs) used as collaterals. Loans are paid out in U.TOKEN (a USD pegged stable coin) and need to maintain a minimum collateral ratio of 110%. In addition to the collaterals, the loans are secured by a Stability Pool containing Stabe coins and by fellow borrowers collectively acting as guarantors of last resort. Stabilize takes advantage of Liquity’s and Polyquity’s unique economic incentives to create a robust and scalable stable coin. Stabilize will be launched on the Avalanche network first
Stabilize Token (SET) Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | Stabilize Token |
| Short Name | SET |
| Circulating Supply | 3,000,000.00 SET |
| Total Supply | 1,000,000,000 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Endorsement
Stabilize Token (SET) Protocol is endorsed and licensed by the PolyQuity team, a fork of the Liquity protocol in the Polygon network, who have designed a new mechanism and economic model to upgrade the protocol to support multiple collateral. PolyQuity has tens of millions of dollars TVL and a strong community presence.
Core Features
- Support multiple asset collateral
- Run in multiple chains
- By staking Collaterals Assets, Stablecoins (U.TOKEN) of zero interest-fee is minted to improve capital utilization.
- Minimum collateral ratio of
110%— more efficient usage of deposited Collaterals assets - Directly redeemable — U.Token can be redeemed at face value for the underlying collateral at any time
- Token ($SET) holders can earn U.Tokens (Borrowing fee), Collaterals (Redemption fee) and $SET(Transfer fee).
Motivation
Stabilize Token (SET) Decentralized lending /stable coins have always been the infrastructure in the DeFi world. Stabilize Protocol is providing an innovative solution 2.0 for them. With decentralized borrowing, Stabilize Protocol will become a “liquidity black hole” as users drop in their entire portfolio of LP tokens, staked assets, and base level ERC-20 tokens. Stabilize has the potential to become one of the largest protocols in DeFi.
U.Token
Stabilize Token (SET) U.Token is minted by staking collateral via Stabilize Protocol on Avalanche Network. U.Token is the USD-pegged stable coin used to pay out loans on the Stabilize protocol. At any time it can be redeemed against the underlying collateral at face value.
Why are there different U.Tokens?
Stabilize Token (SET) The different U.TOKEN will be minted by staking different collateral. Due to the unique mechanism design, each Trove of collateral is independent.
For example: User A uses AVAX as collateral, and the name of the minted U.Token is U.AVAX. User B uses WETH as collateral, and the name of the minted U.Token is U.ETH.
Unlocking
Stabilize Token (SET) protocol allows users to initiate an unlocking request at any time. When an unlock request is initiated, the $SET you requested to unlock will enter a pending redemption phase.
- The redemption phase lasts for 45 days. After the pending redemption phase, you can withdraw the $SET to your wallet.
- During the pending redemption phase, 2.5x revenue is no longer available, but you still have the revenue of Normal Staking.
- $veSET will be burned.
Does Stabilize Support Multiple Asset Collateral?
Stabilize Token (SET) Yes. Collateral is any asset which a borrower must provide to take out a loan, acting as a security for the debt. Currently, Stabilize supports multiple assets AVAX, ETH, BTC and more. With the growth of community, $SET holders will be eligible to choose what’s the next collateral on Stabilize.
Does Stabilize Support Multiple Chains?
Stabilize Token (SET) , Stabilize will be deployed to other chains with the same contract mechanism. The home base of the Stabilize protocol is Avalanche, so all governance will only be carried out on here. For each collateral added to other chains, will bridge the initial $SET (1.2%) for stability pool reward to the target chain.
Does Stabilize Charge Any Fees?
There is a one-off fee whenever U.Token is borrowed, and when U.Token is redeemed:
- For borrowers, there is a borrowing fee on loans as a percentage of the drawn amount (in U.Token).
- For redeemers, there is a redemption fee on the amount paid to users by the system (in Collateral-Assets) when exchanging U.Token for Collateral-Assets. Note that redemption is separate from repaying your loan as a borrower, which is free of charge.