As stablecoin usage exploded in the last year, it has the potential to grow into a multi-trillion-dollar market, and Charge DeFi, is a part of this thriving market on the BSC network. Charge DeFi has developed an Elastic Supply Coin that responds to market events with automated stabilization measures, which provides the opportunity to create a smart, stable, and responsive currency without a central authority.
About Charge DeFi
Charge DeFi is a combination of an Elastic Supply Token with rebase mechanics aiming to initiate a sustainable ecosystem on the Binance Smart Chain network. through the $Charge token. The rebase mechanics, a distinct feature of the project, is destined to protect the value of another token, $Static token, and keep it pegged to 1 BUSD. Regardless, the rebase mechanic is seen as a temporary solution that can be lowered over time and eventually turned off.
The catalyst for a sustainable DeFi future
Algorithmic stablecoins are the crypto token that uses price stabilization algorithms to maintain the value of an asset, usually at $1. They increase the supply of tokens when the value goes up and reduce supply when it goes down. These stablecoins operate on top of a public blockchain that has an underlying token, and in Charge DeFi case, it is the BUSD. Algorithmic stablecoins represent a new type of cryptocurrency tailored to improve price stability.
In essence, algorithms allow projects to upscale much faster than a fully-collateralized stablecoin would. There are algorithmic stablecoin platforms that have enjoyed large expansion not only in market cap but also in business scale in a short amount of time, and these growths are largely driven by community rather than institutions. However, for it to truly thrive and actively contribute to a long-lasting DeFi future, the mechanism itself must in turn practice sustainability through legitimacy by gaining the support from DeFi OGs, long-term commitment and upgrading, a DeFi community patronage, fair launch/DAO driven ecosystem, and proven record for stability.
What Charge DeFi has to offer
One of the core features of Charge DeFi is the rebase mechanics implemented in the contracts to bring the price of $Static back to peg. Rebase mechanics implement price-elastic tokens that adjust the circulating supply to influence a token price. Specifically, a rebase will reduce the number of $Static in circulation and essentially multiply the amount of $Static by the TWAP of $Static to lower the amount of $Static in the user wallet, but simultaneously increase the price of $Static by the same factor. The BUSD value of a certain amount of $Static after the rebase will exactly be the same as before the rebase. Generally, the rebase model works perfectly in holding the market price of tokens at $1. The automatic supply adjustments mean the price will remain the same irrespective of the forces causing the market value changes.
Security and credibility
Charge DeFi prioritizes strong guardrails for the project at launch and protects the ecosystem while expanding on the use-cases and its scale, providing a yield enhancing product that unites all kinds of DeFi building blocks. Security should be a top priority for DeFi projects as well as for users. The team behind Charge DeFi is fully aware of the need to go all out to protect both investors and the ecosystem itself as the project adopts several ways to increase security:
– Fully automated testing of contracts using code analysis tools
– Timelocks to prevent contract changes
– Automated testing during deployment (tokenomics/behavior)
– Regular external audits by experienced developers
Charge DeFi has also been audited by an external party, CertiK, for issues and vulnerabilities in the source code of the Charge DeFi project as well as any contract dependencies that were not part of an officially recognized library.
Community awareness and collaborative growth
Everyone is entitled to their investment strategy and amount of profit. However, for a DeFi community or any financial community for that matter to grow, users should devise better strategies to keep the project running long-term and to create profit for everyone. Here’s the catch: as long as TWAP of $Static is above $1.01, the system expands, thus printing more $Static. Boardroom (where users own a portion of the project and create buying pressure for $Static) stakers will receive part of this expansion. The higher the price of $Static the bigger the expansion and increased boardroom rewards will increase the value of $Charge.
According to Charge DeFi, by restaking, we all benefit. An ideal reinvestment strategy that benefits the project would be to restake 60% – 70% of the earnings into pools that create buying pressure for $Static. Also, the size of the liquidity pool in $Static-$BUSD LP’s directly benefits the project. The bigger the liquidity pool the slower the price movements, increasing stability.
Users can reinvest part of their $Static rewards in the boardroom again (by zapping it to $Static-BUSD LP or $Charge-BUSD LP). Another method is to use the Smart Static Swap function, which will convert $Static to $Charge without an effect on the $Static price. The $Charge token can then be used to stake in the boardroom, vaults or farms, or can be traded for other cryptocurrencies on PancakeSwap.
The core ecosystem consists of two tokens, $Charge and $Static. The developers have plans to launch more tokens in the future for specific use cases.
1.$Charge: The main share/seigniorage/governance token of the Charge DeFi ecosystem.
Smart contract address: 0x1C6bc8e962427dEb4106aE06A7fA2d715687395c
A rebasing ‘stable’ token that will be the main value asset.
Smart contract address: 0x7dEb9906BD1d77B410a56E5C23c36340Bd60C983
Visit ChargeDeFi to learn more:
It is worth it to invest in having the ideal algorithmic stablecoin thanks to its various functionalities, which DeFi platforms could really use in the foreseeable future. As for the crypto community, projects such as Charge DeFi optimize the chance for financial independence that can withstand the volatility brought upon by the harsh winters of DeFi.
Writers’ opinions are solely their own and do not constitute any financial advice, investment advice, or trading advice.
BSC Army strongly recommends that you do your own research and seek professional advice from a financial advisor where appropriate.