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Tigris Stablecoin Staking Service Launched

TTC | 07.06| 40

Tigris Stablecoin Staking Service, named as CFiat(CUSD, CKRW) generated by Tigris Protocol, was launched as a DApp in Acorn Box. WorkBox participants can get additional rewards by Staking Tigris Stablecoins. Staking will be processed when users purchase Tigris Stablecoins with ACN through InstantSwap.

Key Features:

  1. Price is Stable: Tigris Stablecoins have lower price volatility which makes the value of principal stable.
  2. Rewards are Stable: Stable Rewards will be distributed to users by staking their assets, which is earned from DApps such as WorkBox and tata.
  3. Deposit and Withdraw Anytime: Users are able to stake or unstake Tigris Stablecoins anytime on the Acorn Box.

Tigris Stablecoin Staking Rewards are distributed from Tigris Reserve.

Tigris Reserve consists of the followings:

  1. Collateralized Debt Service (CDS) Fee: Service Fee, a form of CLAY token, will be charged to users who use the CDS.
  2. TTC Vote Rewards: 20% of the TTC vote rewards are distributed to Tigris Reserve.
  3. TDEX Service Fee: The service fee, 0.25% of the transaction volume in the form of TTC is charged from both the buyer and seller for each successful transaction. The service fee is charged 10 days before the launch of Staking Service.

TDEX Service Fee Rewards:

As TDEX Service Fee is included in the Tigris Rewards Reserve, Staking Rewards for the CFiat/CLAY is increased. The 80% of the reserve is distributed to the staking holders and the rest of the reserve remains in the Tigris reserve. The rewards from TDEX Service Fee will be distributed to users as an average of 10 days of Service Fees, making stable rewards against day to day transaction volume.

Example:

  • TDEX Rewards = (sum of 10 days of Service fees) * 80% / 10
  • 11th July Rewards: 8.0 = 100 * 80% / 10
  • 12th July Rewards: 8.32 = 104 * 80% / 10

Tigris Stablecoin Staking rewards rate is initially set to 80% of TTC Staking Rewards. In addition, the one-time transaction limit for the staking is fixed as 500 CUSD to verify the safety.

We expect that Tigris Stablecoin Staking Service will increase demands and usages of Stablecoins as well as make new users come into the service. As more users use Tigris Stablecoins, the total usage of Tigris protocol will be increased, making better service stability.

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Tigris Stablecoin Staking Service Launched was originally published in TTC — Official Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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