MahaDAO to Launch Unique Stablecoin ARTH By CoinQuora

0
16

MahaDAO to Launch Unique Stablecoin ARTH
  • MahaDAO has announced the launch of its asset ARTH (OTC:) on June 22.
  • ARTH is a unique stablecoin fully backed by collateral.
  • Users participating in the launch can win a NFT from MahaDAO.

DeFi project MahaDAO has announced that it will launch its own asset, ARTH, on June 22. ARTH is a fractional reserve stablecoin which is fully backed by collateral. Initially, the company plans to launch it on the Polygon Network. Later, it is to be deployed on , Binance Smart Chain (BSC) as well as other blockchain networks.

The coin’s unique features include the fact that ARTH’s value is reflected by the underlying buying power of the asset rather than the price. This means that the currency is backed by a basket of uncorrelated assets e.g. a percentage of bitcoin, gold and fiat instead of being pegged to the value of the US dollar (USD) like traditional currencies.

The protocol’s native currency is known as MAHA. For ARTH, a deflationary token named ARTHX has been designed to absorb the volatility of the asset and guara…

This article was first published on coinquora.com

Continue reading on CoinQuora

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.