Everything you need to know about Silk in 3 minutes.
ICI’s AI generated summary:
- Silk is an over-collateralized and privacy preserving stable coin.
- Its value is pegged to a basket of assets and commodities.
- This allows silk to preserve value better than any single currency or Fiat Peg stable coin.
- Silk currency basket is a globally inclusive approach to money
- The basket is a weighted index, not pegged to a single value like the US dollar
- Composition includes currencies like USD, Canadian dollar, Euro, and Japanese Yen
- SILK requires over-collateralization for stability
- Inclusion of multiple currencies in the basket provides increased Peg stability
- Accepted collateral includes racked eth, stable coins, and high-quality Cosmos assets
- SILK offers five stability mechanisms for its stablecoin.
- Mint SILK by providing assets as collateral and use it for liquidity or trading.
- SILK has unique stability mechanisms, different from other stablecoins.
- Silk stable coins avoid regulatory scrutiny by being pegged to a global index of value.
- Silk stable coins are not directly tied to a single currency, reducing regulatory risk.
- Government scrutiny is focused on stable coins that are derivatives of their own currency.
- SILK is the world’s first ever private and basket pegged stablecoin.
- SILK can adapt to any Global macro scenario over time.
- SILK is globally inclusive and private while remaining promising.
- Silk is stable, interoperable, and privacy-preserving.
- Silk taps into massive narratives with seismic significance.
- Silk upholds the human right of privacy and is betting on privacy for crypto survival.
- Silk is designed to hedge against inflation and macro volatility.
- It is able to adapt to any unpredictable scenario.
- Silk offers decentralization, privacy, and global inclusivity as a stablecoin.
