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Collaterized Rebasable Stablecoins (CRS)

Collaterized Rebasable Stablecoins are the next generation of stablecoin combining algorithmic and traditional approach from MakerDAO, soft-pegging the asset price to 1 fiat currency(e.g. USD, KRW, JPY). The stablecoin is generated with overcollaterization with stablecoin with elastic supply to measure how much stablecoin is optimal to be printed.

Inflationary condition

In situation where stablecoin price is below 1 USD, stability fees are adjusted higher and rebaser prevents new stablecoin to be printed to recover the peg. Stablecoin holders can profit by earning liquidated collaterals paired with the stablecoin.

Deflationary condition

In situation where stablecoin price is higher 1 USD, desirable supply is rebased to provide higher ceiling for stablecoin to be printed. stablity fee is adjusted lower, and Stablecoin issuers can have premium on issuing stablecoin compared to market price higher than 1USD.

How to use Meter 101

In Bull run, Standard protocol users can try leverage trading where you generate stablecoin from the collateral and wait for the collateral price to go up. Then users payback the loan with interest with the amount of stablecoin that was generated at that time.

In Bear run, liquidation is gone to AMM where the stablecoin holders can have an arbitrage opportunity to buy liquidated collateral at a cheaper price than the general market.

Vaults

V1

V1 is one of the non-fungible token to claim the ownership of CDP that one has made for generating the stablecoin. There will be many ways to generate CDP, and V1 has its own unique characteristic when it comes to capital efficiency of the collateral in the position.

Tradable CDP

V1 enables one to trade cdp as a form of Non-fungible token. When a borrower has not enough allowance to payback a loan, the borrower can host an auction by themselves in compatible open auction platforms such as Opensea.

V2 ( In Research Phase )

V2 is the non-fungible token to claim the ownership of CDP that one has made for generating stablecoin. V2 has its own unique characteristic when it comes to staking capability of the collateral in the position

Yield bearing CDP

Collaterized with native currency in a Proof-of-Stake(PoS) network, native currency collaterals are staked to validators to accrue interest from block reward making CDP more stable as it maintains. Depositors can benefit from accured collateral from the position or generate more stablecoin to enable more leverage trade capability. V2's interest increases as V2's liquidation goes to the staking account to stake more from the liquidated collateral.