🔵SILK Feature
Last updated
Last updated
The short answer: Silk is our stablecoin powered by Shade Protocol.
Token Symbol: SILK
The long answer: SILK is a privacy-preserving collateralized reflexive currency pegged to a basket of global currencies and commodities. With six second transactions, SILK is fast and agile. SILK is a futuristic stablecoin that acts as an interoperability hub between global currencies - acting as a perpetual hedge against macro volatility and inflation.
Stablecoins to date suffer from four key problems:
Stability
Foreign Exchange Risk (FX Risk)
Privacy
Interoperability
SILK uniquely solves each of these components, positioning itself to be a truly futuristic Web3 currency.
Where can I find Silk’s whitepaper:
Silk’s peg is composed of this weighted index of global value. USD, CAD, Euro, JPY, Gold, and BTC. Read more about it here.
The SILK peg is governed by Shade Protocol general governance, as well as the SILK Assembly - a research team and elected multisig that is capable of triggering SILK peg migrations as well as SILK composition changes.
The amount of Silk supply fluctuates based on market demand. This number can be found on our Silk page of our app under “Silk Supply”.
The amount of SILK that is circulating in the market and are tradeable by the public. It is comparable to looking at shares readily available in the market (not held & locked by insiders, governments).
Learn how to buy $SILK on the Shade App here.
Information provided in this post is for general informational purposes only and does not constitute formal investment advice. Please read the full disclaimer at shadeprotocol.io/disclaimer before relying on any information herein.