NFR is a digital currency designed for stability and reliability. It's anchored to $1.00, ensuring a consistent value. This stability is backed by Chainlink's price feed, and users can easily exchange ETH and BTC for NFR.
The stability of NFR is maintained through an algorithmic approach, making it decentralized and trustworthy. Users can mint NFR with collateral, and the collateral comes from the crypto world, specifically ETH and BTC.
In summary, NFR offers a secure and dependable digital currency experience, ideal for various financial transactions and applications.
- Relative Stability: Anchored/Pegged to $1.00 (Better here would be Floating (HARD version))
- Chainlink price feed.
- Function to exchange ETH & BTC for $$$ and NFR
- Stability Mechanism (Minting/Burning): Algorithmic (Decentralized)
- Users can only mint the stablecoin with enough collateral (Coded)
- Collateral: Exogenous [Collateral that originates from outside of the protocol meaning if our stablecoin fails our underlying collateral doesn't fail] (Crypto)
- ETH
- BTC