A stablecoin backed by real stock tokens on Robinhood Chain
RobinUSD (USDRh) is a decentralized stablecoin backed by real stock tokens, built on the Robinhood Chain. Users can deposit stock tokens as collateral, mint USDRh stablecoins, send them to others or use in DeFi protocols, and burn them to redeem their collateral — all through a modern web interface.
Because programmable economies need easily exchangeable and usable assets, that's where stablecoins come in. RobinUSD allows any user with token stocks to obtain stablecoins without selling their assets and use them in any DeFi protocol, without depending on a centralized entity.
To obtain USDRh, you need to deposit collateral in any enabled stock token (such as TSLA for example) and you will receive the corresponding amount directly in your wallet (you will need to deposit 150% of the amount you require in USDRh in order to protect the stock token collateral against high fluctuations).
You can use USDRh to send it to any wallet on the Robinhood Chain, or you can also trade on protocols within the network.
At any time, you can burn your stablecoins and receive your stock tokens back.
RobinUSD has several advantages:
It supports any stock token as collateral (as Robinhood Chain expands with more tokens, more collateral options become available).
It has an auction model to pay off debts against collateral during periods of high volatility or liquidation.
MVP created and smart contracts validated.