{"title": "Stablis Protocol", "logoImg": "bafkreib7avca6ypnlzmcljkpqmzyiora5wyw7eqkhqz7jbtsbpzgc73cgq", "website": "https://stablis.finance", "bannerImg": "bafkreibx3q2ialhc6boslbjyr2ruz6lrri3or3edwsdlqpbpywfd7rh2uu", "createdAt": 1725296674236, "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..yNk3v79cOBX9v6IyYlaX6k9ekyalK40ex7lx41wZVoEmPc8OWQP1gtlXeKmUVxpkdibDRBAHu7mLa93baMdrDA", "type": "Ed25519Signature2018", "created": "2024-09-02T17:04:31.085Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-09-02T17:04:31.085Z", "expirationDate": "2024-12-01T17:04:31.085Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xE38B49C3F142C0D1AAF8E11e218D56a2AD067425", "hash": "v0.0.0:AITk/z8Zx0kGPNqycmnT0iYwA3/vN2OFUep2FDBWplA=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#StablisProtocol"}}}, "description": "INTRODUCTION\n\nStablis Protocol allows users to borrow against their yield-bearing assets, such as artMETIS, through a non-custodial and capital-efficient mechanism. Loans are issued in USDs, a stablecoin pegged to the US dollar, ensuring stability and minimizing risk while enabling users to unlock the value of their assets.\n\nMISSION AND KEY BENEFITS\n\nOur mission is to facilitate capital-efficient, user-friendly borrowing against yield-bearing assets like stMETIS. We offer significant advantages, including:\n\n\u2192 Low interest rates on loans\n\n\u2192 Low minimum collateral ratios starting at 125%\n\n\u2192 Liquidity re-utilization across DeFi protocols on Metis\n\n\u2192 STS stakers will earn 100% of protocol revenue\n\nThis advantages significantly enhance capital efficiency and also fosters a robust, secure borrowing environment within the Metis ecosystem.\n\nINNOVATION AND COMMUNITY VALUE\n\nStablis extends the Liquity codebase to enable multiple collateral types and ensure a broad spectrum of Metis protocols can integrate seamlessly. Our dual-token system, featuring $USDs for stablecoin loans and $STS for protocol governance and revenue sharing, incentivizes both borrowers and stability providers. Our ecosystem fosters a participatory, secure environment for users, highlighted by our commitment to audits and non-custodial principles.\n\nCORE FEATURES\n\n\u2192 Chests: A Chest is where you initiate and manage your loan. Each Chest is associated with a Metis address, and each address can only have one Chest per collateral type. If you are familiar with Vaults or CDPs on other platforms, Chests share a similar conceptual framework.\n\nChests maintain two balances: one consists of assets serving as collateral, and the other represents a debt denominated in USDs. You can modify the amounts of each by adding collateral or repaying debt. As you make adjustments to these balances, the collateral ratio of your Chest changes accordingly. You have the flexibility to close your Chest at any time by fully repaying your debt.\n\n\u2192 Stability pool: The Stability Pool acts as the primary safeguard in upholding system solvency. Its role is to act as the liquidity source for repaying debt from liquidated Chests, ensuring a consistent backing for the total USDs supply.\n\nWhen a Chest gets liquidated, an amount of USDs equivalent to the remaining debt is burned from the Stability Pool, settling the debt. In return, the entire collateral from the liquidated Chest is transferred to the Stability Pool.\n\n\u2192 Stability Providers, who contribute USDs to the pool, fund the Stability Pool. Over time, Stability Providers experience a pro-rata reduction in their USDs deposits but gain a pro-rata share of the liquidated collateral. Given that Chests are likely to be liquidated just below the minimum collateral ratio, it is anticipated that Stability Providers will receive a greater dollar-value of collateral relative to the debt they settle. Any collateral received by Stability Providers is free to be traded back to USDs or other assets.\n\n\u2192 Redemption mechanism: We implement a redemption mechanism to support USDs\u2019 $1 soft peg. As soon as USDs goes under peg, there is an incentive for arbitrage traders to buy USDs on the open market and redeem against collateral of the Chest(s) with the lowest collateral ratio. This arbitrage creates demand for USDs and brings it back to peg.\n\nIt\u2019s the process of exchanging USDs for any collateral type asset at face value, where 1 USDs is always considered exactly worth $1. In this process, for x USDs, users receive x dollars worth of chest collateral in return. Users have the flexibility to redeem their USDs at any time without limitations.\n\n\u2192 STS Staking: From the moment users stake their STS in the staking vault, they will start earning real yield from the borrowing and redemption fees corresponding to their share of the total staked STS tokens at the moment the fees are generated. Also 100% of the interest fees will go directly to the STS stakers. Stakers have the flexibility to withdraw their staked assets at any time as there isn\u2019t a lock-up period in place.\n\n\u2192 Governance: STS token holders are empowered with the right to cast their votes on important Stablis governance proposals. The main focus of these proposals will be to fine-tune borrowing fees and interest rates, ensuring that Stablis remains aligned with the ever-evolving market standards and rates. This dynamic governance structure is designed to keep our protocol competitive and responsive to the needs of our community.\n\nWHAT STABLIS MEANS FOR METIS\n\nBy leveraging the Metis blockchain we introduce a groundbreaking approach to unlocking more capital. It enhances the Metis ecosystem by enabling low interest loans against yield-generating assets, thus promoting capital efficiency and financial inclusivity while significantly expanding Metis\u2019 total value locked (TVL). \n\nStablis\u2019 integration into Metis not only diversifies the blockchain\u2019s DeFi offerings but also attracts a broader user base seeking innovative, low-risk borrowing solutions. This symbiotic relationship will bring growth and stability within the Metis ecosystem, contributing to its overall value proposition and appeal to both developers and users.\n\nTOKENOMICS*\n\nMax supply: 100M\n\nCommunity Incentives: 45.7M\nAirdrop: 0.3M\nPublic Sale: 20M\nTeam: 16M\nAdvisors: 4M\nTreasury: 10M\nInitial liquidity: 4M (Locked)\n*subject to change\n\nROADMAP\nOur protocol is launch ready!\n\nQ4 2024: Launch protocol\nQ1 2025: Expand collateral options and enhance user interface\n>2025: Expand collateral options, Implement advanced governance features and cross-chain capabilities\n\n\nCONCLUSION\n\nStablis represents the forefront of LST based borrowing and stablecoin solutions on Metis, with a focus on security, efficiency, and community empowerment. As such, we believe Stablis is an exemplary candidate, promising to contribute significantly to the ecosystem\u2019s growth and stability.\n\n", "logoImgData": {}, "bannerImgData": {}, "projectTwitter": "StablisProtocol"}
Stablis Protocol
INTRODUCTION

Stablis Protocol allows users to borrow against their yield-bearing assets, such as artMETIS, through a non-custodial and capital-efficient mechanism. Loans are issued in USDs, a stablecoin pegged to the US dollar, ensuring stability and minimizing risk while enabling users to unlock the value of their assets.

MISSION AND KEY BENEFITS

Our mission is to facilitate capital-efficient, user-friendly borrowing against yield-bearing assets like stMETIS. We offer significant advantages, including:

→ Low interest rates on loans

→ Low minimum collateral ratios starting at 125%

→ Liquidity re-utilization across DeFi protocols on Metis

→ STS stakers will earn 100% of protocol revenue

This advantages significantly enhance capital efficiency and also fosters a robust, secure borrowing environment within the Metis ecosystem.

INNOVATION AND COMMUNITY VALUE

Stablis extends the Liquity codebase to enable multiple collateral types and ensure a broad spectrum of Metis protocols can integrate seamlessly. Our dual-token system, featuring $USDs for stablecoin loans and $STS for protocol governance and revenue sharing, incentivizes both borrowers and stability providers. Our ecosystem fosters a participatory, secure environment for users, highlighted by our commitment to audits and non-custodial principles.

CORE FEATURES

→ Chests: A Chest is where you initiate and manage your loan. Each Chest is associated with a Metis address, and each address can only have one Chest per collateral type. If you are familiar with Vaults or CDPs on other platforms, Chests share a similar conceptual framework.

Chests maintain two balances: one consists of assets serving as collateral, and the other represents a debt denominated in USDs. You can modify the amounts of each by adding collateral or repaying debt. As you make adjustments to these balances, the collateral ratio of your Chest changes accordingly. You have the flexibility to close your Chest at any time by fully repaying your debt.

→ Stability pool: The Stability Pool acts as the primary safeguard in upholding system solvency. Its role is to act as the liquidity source for repaying debt from liquidated Chests, ensuring a consistent backing for the total USDs supply.

When a Chest gets liquidated, an amount of USDs equivalent to the remaining debt is burned from the Stability Pool, settling the debt. In return, the entire collateral from the liquidated Chest is transferred to the Stability Pool.

→ Stability Providers, who contribute USDs to the pool, fund the Stability Pool. Over time, Stability Providers experience a pro-rata reduction in their USDs deposits but gain a pro-rata share of the liquidated collateral. Given that Chests are likely to be liquidated just below the minimum collateral ratio, it is anticipated that Stability Providers will receive a greater dollar-value of collateral relative to the debt they settle. Any collateral received by Stability Providers is free to be traded back to USDs or other assets.

→ Redemption mechanism: We implement a redemption mechanism to support USDs’ $1 soft peg. As soon as USDs goes under peg, there is an incentive for arbitrage traders to buy USDs on the open market and redeem against collateral of the Chest(s) with the lowest collateral ratio. This arbitrage creates demand for USDs and brings it back to peg.

It’s the process of exchanging USDs for any collateral type asset at face value, where 1 USDs is always considered exactly worth $1. In this process, for x USDs, users receive x dollars worth of chest collateral in return. Users have the flexibility to redeem their USDs at any time without limitations.

→ STS Staking: From the moment users stake their STS in the staking vault, they will start earning real yield from the borrowing and redemption fees corresponding to their share of the total staked STS tokens at the moment the fees are generated. Also 100% of the interest fees will go directly to the STS stakers. Stakers have the flexibility to withdraw their staked assets at any time as there isn’t a lock-up period in place.

→ Governance: STS token holders are empowered with the right to cast their votes on important Stablis governance proposals. The main focus of these proposals will be to fine-tune borrowing fees and interest rates, ensuring that Stablis remains aligned with the ever-evolving market standards and rates. This dynamic governance structure is designed to keep our protocol competitive and responsive to the needs of our community.

WHAT STABLIS MEANS FOR METIS

By leveraging the Metis blockchain we introduce a groundbreaking approach to unlocking more capital. It enhances the Metis ecosystem by enabling low interest loans against yield-generating assets, thus promoting capital efficiency and financial inclusivity while significantly expanding Metis’ total value locked (TVL). 

Stablis’ integration into Metis not only diversifies the blockchain’s DeFi offerings but also attracts a broader user base seeking innovative, low-risk borrowing solutions. This symbiotic relationship will bring growth and stability within the Metis ecosystem, contributing to its overall value proposition and appeal to both developers and users.

TOKENOMICS*

Max supply: 100M

Community Incentives: 45.7M
Airdrop: 0.3M
Public Sale: 20M
Team: 16M
Advisors: 4M
Treasury: 10M
Initial liquidity: 4M (Locked)
*subject to change

ROADMAP
Our protocol is launch ready!

Q4 2024: Launch protocol
Q1 2025: Expand collateral options and enhance user interface
>2025: Expand collateral options, Implement advanced governance features and cross-chain capabilities


CONCLUSION

Stablis represents the forefront of LST based borrowing and stablecoin solutions on Metis, with a focus on security, efficiency, and community empowerment. As such, we believe Stablis is an exemplary candidate, promising to contribute significantly to the ecosystem’s growth and stability.


Stablis Protocol