DescriptionEvery $CASH token is backed with 1 USD or more worth of assets. Due to protocol fees, $CASH incurs a premium to its price, which is captured by the protocol for backing.

Category:fiat-backed

Minting and RedemptionMinting is done via first depositing collateral into the vaults, and then minting/borrowing the stable. Redeeming/paying back/burning the stable (action burns it under the hood) lets the user pay back their debt to the vault, unlocking their collateral