Chrysus — God of Gold & The Future of DeFi
Chrysus Coin is a decentralized and open-source cryptocurrency that aims to be the future coin. It operates as a stablecoin, pegged to the price of gold (XAU/USD) using Decentralized Finance (DeFi) best practices. The Chrysus ecosystem includes a SWAP solution, a lending platform, and an eCommerce integration solution, making it versatile and usable beyond the DeFi space.
Mission & Vision
The mission of Chrysus Coin is to create a borderless world where people and machines can freely exchange assets without intermediaries or artificial borders. The vision is to empower individuals to participate in this new world effortlessly. The project is divided into four phases to bring this vision to reality.
How to create Chrysus?
To create Chrysus, users contribute their collateral as ETH or DAI (approved collateral tokens). The system uses ChainLink6 Oracle to determine reference points for the quantity of Chrysus created based on the prices of ETH/USD, XAU/USD, and DAI/USD.
Collateralization ratios
Collateralization ratios determine the issuance of Chrysus tokens, adjusting ratios based on Chrysus’s deviation from its target price. If Chrysus trades below its peg, the collateralization ratio increases, making it harder to create new Chrysus. Conversely, if Chrysus trades above its peg, the ratio decreases, making it easier to mint a new Chrysus. The system has a fixed liquidation ratio of 110%. If the underlying collateral’s value falls below this threshold, liquidation occurs through various steps, including selling the position on Project Chrysus’ swap solution and UniSwap. Fees collected from the ecosystem are redistributed to CGT token holders who actively participate in the stability mechanisms of the platform.
Fees
Chrysus’s positions do not incur ongoing fees but generate cash flows over time. A 10% origination fee is paid whenever a new Chrysus is minted, with the fee distributed to the project treasury, Chrysus and CGT liquidity, and stakeholders in the stability module. The CGT Governance Token is an internal incentive mechanism and can be continuously purchased at a variable price.
Liquidity Pools
The project plans to provide liquidity pools for Chrysus tokens against ETH over Uniswap to facilitate trading. Additionally, Chrysus offers a lending and borrowing platform, allowing users to earn interest on their Chrysus holdings or borrow assets using Chrysus as collateral. The money market determines interest rates by supply and demand dynamics.
Ecommerce Implementation
Furthermore, Chrysus aims to integrate with eCommerce, enabling businesses to leverage the online marketplace and reach a broader customer base. The protocol also allows dApps, machines, and exchanges with token balances to monetize and earn incremental returns by “sweeping” balances.
Conclusion
In conclusion, project Chrysus’ gold-pegged Chrysus Coin will power a decentralized ecosystem. CGT holders receive ecosystem fees. Lending and Borrowing can generate money market returns for long-term Ether and token investors. Businesses grow through ecommerce. Borrowing Assets uses Chrysus tokens as collateral for frictionless borrowing. Chrysus’s collateral can repay part of an account’s outstanding borrowing if it exceeds capacity. Our protocol balances money markets with a supply-and-demand interest rate model.
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