Tower is a permissionless, on-chain protocol, currently on Polygon. Development is underway to expand and be multi-chain to as many networks as possible. The protocol plans to maintain TWR’s price stability, in other words, the peg, by storing sufficient collateral in the time-locked smart contracts. This collateral is used for redemptions, thus helping to maintain price stability. The collateral consists of two tokens, USDC and CUBE. The USDC is deposited into the protocol when a user mints TWR token, while the CUBE token, which is used for minting is burned. When the user redeems TWR tokens, the protocol pays back USDC and mints the required amount of CUBE tokens.
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- API ID tower-usd
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- Contracts & Explorer(s) 0xd60...2d455
- Websites Website
The TWR token is a Fractional-Algorithmic Stablecoin, soft pegged to the U.S. Dollar on Polygon.
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