Tower Finance Announces the Launch of Algorithmic Stablecoin: the New Holy Grail for Defi 2.0 – QNT Press Release

[ad_1]

SEOUL, Korea, Feb. 12, 2022 (GLOBE NEWSWIRE) — Recently, Tower Finance is proud to announce the Launch of its Algorithmic Stablecoin. Algorithm-based stablecoins are new variants of cryptocurrency tailored for offering improved price stability. In the current market Today, more and more users have taken interest, as it can also help in balancing the supply and demand of the asset in circulation.

Algorithmic Stablecoin Protocol, developed by Tower Finance, looks to offer considerably improved capital efficiency in comparison to collateralized stablecoins.

What is Tower Finance?

The Tower Finance is a Fractional-Algorithmic Stablecoin, soft-pegged to the US Dollar, built on the Polygon network. The protocol plans to maintain TWR price stability by storing sufficient collateral in the time locked-smart contracts. 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 …

Full story available on Benzinga.com

[ad_2]

Source link

Recommended For You

About the Author: News Center