🐢Welcome to DEFI TURTLE
$TURT - Algorithmic stable coin pegged to the price value of 1:1 to $USDC on Arbitrum One chain
Overview
Welcome to "DEFI Turtle" USDC Algo-stable Yield Farming on Arbitrum network
The protocol's underlying mechanisms dynamically adjusts $TURT supply, keeping its price stable relative to the price of its pegged token.
The beauty of an algorithmic stable coin is much more capital efficient than their collateralised cousins. Turtle DeFi work towards expanding this idea of capital-efficient algorithmic stable coin and build on previous iterations to expand the basis of the ecosystem.
Turtle DeFi Turtle is a multi-token protocol which consists of the following three tokens:
Turtle ($TURTLE),
Shell ($SHELL),
What makes $TURT different from other algorithmic tokens?Why TURT pegged to $USDC?
In recent days, Cryptocurrency market is big downtrend, big volatility. Only stablecoins are the exceptions. Though with the recent events in crypto and banking industries which made USDC to de-peg , US government and Financial regulators promised 100% of deposits from SVB are secure and are available for banking. so USDC is 100% BACKED!
Stablecoins are the bridge between Decentralised finance (Defi) and Centralized finance (Cefi). The demand of stablecoins is increasing day by day with the development of not only Defi market but also the whole cryptocurrency market.
$USDC is a stablecoin backed by US dollar - a fiat currency with 1:1 ratio. Each USDC is redeemable for one US dollar, and is backed by one dollar or a dollar-denominated asset with equivalent value held in accounts at regulated U.S financial institutions. Those accounts are audited by U.S. accounting firm Grant Thornton LLP, which issues monthly attestations on the reserves backing USDC. $USDC is the most popular, stable and widely accepted stablecoin on almost recent blockchains.
Note : Plese read the disclaimer in the next sub-page.
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