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STATIK is the name of the Thorus protocol stable coin and it represents a core asset of the whole platform. How does it work:
The user deposits 1 USDC.e as collateral, using the platform UI.Protocol mints 1 STATIK that the user needs to Claim.Protocol deposits 0.8 USDC.e into the Treasury.Protocol uses the remaining 0.2 USDC.e to market buy THO and deposits that into the Treasury as well.When the user chooses to Redeem their collateral, they return STATIK (which gets burned - taken out of circulation) and receive USDC.e back.STATIK is fully crypto-backed since 100% of its value in collateral will be redeemable at any time. However, it does not require overcollateralized on mint. STATIK will be minted using USDC.e 1:1.
Thorus is an all-in-one cross-chain DeFi Platform with an adaptable treasury system, and a token holder first approach.
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