MONEY is the platform-issued ultrasound USD-pegged stablecoin. MONEY is supported by a basket of decentralized crypto assets, including AVAX, JOE, ETH, QI, along with incentives from Trader Joe and Pangolin LP. 

MONEY is an Avalanche-native stablecoin token comparable to USDC, USDT, and DAI. It can be exchanged for other tokens or stablecoins, and used in DeFi-such as providing liquidity on AMMs, serving as collateral for borrowing, bonding to earn tokens, or held as a store of value. The protocol’s stablecoin value is collateral-backed, based on the deposits made by users, plus the interest and farming rewards generated from that collateral. MONEY can also be traded into other stable and non-stable assets through decentralised exchanges.

MONEY aims to keep 1 USD parity. Because loans (including minting fees) exceed the amount a user can withdraw, repaying loans-manually or automatically-creates ongoing demand for the stablecoin, helping support its price through market mechanics in addition to the collateral backing. If 1 MONEY < 1 USD, it incentivizes users to purchase MONEY on the open market to repay their loans. Arbitrageurs help maintain the USD peg by buying MONEY when it trades below the peg and selling once it returns to parity. The reverse dynamics apply when MONEY is above the 1 USD peg.