reUSD is a decentralized stablecoin built on the RENEC blockchain using RPL token technology.
The reUSD is a stablecoin supported by a pool of well-established, reputable fiat-backed stablecoins like USDT by Tether. This backing provides reUSD holders with the option to convert their tokens into USDT, which is widely used in the Web3 ecosystem. In the event of redemption, the equivalent amount of the collateralizing asset will be made accessible to the holder.
The stability of reUSD is secured through two keycommitments by the RENEC Foundation. Firstly, the Foundationcommits to minting and repurchasing coins at par. Secondly,it holds assets to fulfill its obligation to redeemoutstanding stablecoins.
Everything
you need to know
What is reUSD?
reUSD is a stable and secure digital asset that offers stability in value. Its value is tied to a reserve of popular stablecoins, starting with USDT in the first phase and potentially expanding to include other stablecoins in the near future. This makes reUSD a dependable store of value within the blockchain environment. With high liquidity, reUSD simplifies the exchange process for other cryptocurrencies on the RENEC blockchain or fiat currencies, making it an ideal choice for traders.
How does reUSD supply?
reUSD is a decentralized stablecoin built on the RENEC blockchain using RPL token technology. It is fully collateralized by assets held in Reserve, with a collateral requirement of $1 of stablecoin assets for every reUSD minted. Initially, the conversion ratio for minting reUSD will be set at $1 worth of USDT, a fiat-backed stablecoin on the Ethereum network.
reUSD Reserve
reUSD is fully supported by a diverse range of assets in the reUSD Reserve smart contract. These backing assets are carefully secured within the contract to guarantee their availability for redemption by users at any moment.
Redemption
reUSD is redeemable at a 1:1 ratio for its underlying collateralized stablecoin in Reserve. Conversion from USDT and other stablecoins into reUSD is free of charge; however, a nominal fee of less than 0.5% may be applied during redemption. This fee is subject to change based on market conditions.
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