Overview

How does it work?

Stablecoin DurovUSD is a secured cryptocurrency whose value is relatively stable against the U.S. dollar. We believe that stable digital assets such as DurovUSD Stablecoin are necessary to unlock the full potential of blockchain technology.

The TON cryptocurrency smart contract platform supports and stabilizes the value of DurovUSD through a dynamic system of Collateralized Debt Positions (CDPs), autonomous feedback mechanisms, and external actors with a vested interest.

Once minted, DurovUSD can be used just like any other cryptocurrency: it can be freely sent to other people, used as payment for goods and services, or stored as long-term savings.

Importantly, the generation of DurovUSD also creates the components necessary for a robust decentralized margin trading platform.

User experience

Step 1: Creating a collateralized debt obligation and posting collateral

A Collateralized Debt Obligation user first conducts a transaction with the Durovs Protocol Foundation platform to create a Collateralized Debt Obligation and then transfers an amount to be used as collateral to generate DurovUSD currency. At this point, the collateralized debt obligation is considered secured.

Step 2: Generate DurovUSD using collateralized debt obligation (CDP)

The user of the collateralized debt obligation sends a transaction to allocate the required amount of DurovUSD from the debt obligation, which results in a corresponding amount of debt accruing in the debt obligation, which blocks the user's access to the collateral until the unpaid debt is cleared.

Step 3: Payment of debt and stability fees

To collect the collateral, the user must pay the debt on the collateral obligation plus a stability fee that continuously accrues on the debt. The stability fee can only be paid in DurovUSD tokens. The user transfers the required amount and service fee into DurovUSD and pays the debt and the stability fee, after which the collateralized debt obligation debt is considered cleared.

Step 4: Withdrawing collateral and closing the collateralized debt obligation

After paying the debt and stability fees, a collateralized debt obligation user can withdraw their collateral in whole or in part back to their digital wallet by submitting the appropriate transaction to the DurovUSD Protocol Foundation platform.