Silk 101

BY Shade ProtocolFeb 15 · video

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.