Ergo’s SigUSD Stablecoin Maintains Peg Despite Market Volatility
2022.05.25 16:35
Ergo’s SigUSD Stablecoin Maintains Peg Despite Market Volatility
- Ergo provides a decentralized, crypto-backed, algorithmic stablecoin.
- SigmaUSD protocol (SigUSD) is a decentralized crypto-backed, algorithmic stablecoin.
- SigUSD has a crypto reserve that protects its value.
Next-generation smart contract platform Ergo provides a stablecoin solution amid the crashing market where stablecoins play a major role. In detail, SigmaUSD protocol (SigUSD) is a decentralized crypto-backed, algorithmic stablecoin. It is entirely on-chain and non-custodial, a factor that eliminates trust issues and backdoor manipulations.
Furthermore, SigUSD has a crypto reserve that protects its value. It has two funding sources: the users trading ERG for SigUSD and the people trading ERG for the reserve token. This pool of ERG works to over-collateralize the stable asset, SigUSD, and absorb ERG’s volatility.
Specifically, it is collateralized by several hundred percent, and the holders of the token can clearly see the reserve ratio to understand …
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