AMA with Paprprintr Finance - The 1th Cross-Chain Algo-Stablecoin
12Paprprintr is the perfect solution for real use cases of crypto and the necessity of a stable token along with decentralized finance.
SOCIALS:
Website: https://paprprintr.finance/
Twitter: https://twitter.com/paprprintr
Telegram Channel: https://t.me/paprprintr
Telegram Announcement: https://t.me/paprprintrannouncements
Medium: https://paprprintr.medium.com/
HOW IT WORKS
When PAPR TWAP is over $1 for an epoch (6 hours) : A percentage of the total PAPR supply is minted. The minted PAPR is given to users who staked their PRNTR (shares) tokens depending on how many PRNTR they staked.
When PAPR TWAP is under $1 for an epoch :
PAPR minting is stopped. Instead, INK tokens (bonds) are available for sale. Users can buy INK with PAPR. For 1 INK bought, 1 PAPR is automatically burnt.
INK tokens can’t be redeemed when PAPR is under $1, but they can be sold at the price of PAPR² whenever PAPR goes back over $1. This is a premium mechanism incentivizing users to buy bonds and helping the price to get back above its peg. An autoburn is applied on PAPR sales, burning 100% of the rate in the process.
1ST CROSSCHAIN
ALGO-STABLECOIN
#paprprintr
#prntr
#Defi
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