➤What is PaprPrintr
We aim to connect DeFi with the real world. paprprintr at its core, is an algorithmic stablecoin driven by elastic expansion and burn. Inspired by Basis Cash and other predecessors, we have applied principles of those protocols and innovated our own new mechanisms that effectively maintains the $1 peg level.
➤How it works
- When PAPR TWAP is over $1 for an epoch (6 hours) : A percentage of the total PAPR supply is minted. The minted PAPR is given to users who staked their PRNTR (shares) tokens depending on how many PRNTR they staked.
- When PAPR TWAP is under $1 for an epoch :
- PAPR minting is stopped. Instead, INK tokens (bonds) are available for sale. Users can buy INK with PAPR. For 1 INK bought, 1 PAPR is automatically burnt.
- INK tokens can’t be redeemed when PAPR is under $1, but they can be sold at the price of PAPR² whenever PAPR goes back over $1. This is a premium mechanism incentivizing users to buy bonds and helping the price to get back above its peg. An autoburn is applied on PAPR sales, burning 100% of the rate in the process.
Ecosystem deployed on BSC, Polygon, Fantom (soon KCC)
Peg Hard and Strong
Thinking about new DeFi products is at the core of our ecosystem. We build with the community.
Vault on demand
Want a vault ? Ask and we’ll deploy it for you.Need a vault ?
Obelisk audited our vaults and pools. Certik audit is coming very soon for the whole ecosystem as wellObelisk report