19. Degen Docs
In case the technical docs are too dense, start here.
Ubiquity dollar (uAD) is a stablecoin. This means its price is always supposed to be the same, at its intended peg of 1 United States Dollar ($1).
It is specifically an algorithmic stablecoin. This means there are little assets 'backing' its price, but it is still able to keep its peg to $1 through algorithms that incentivize activities to bring its price closer towards $1.
The price is able to stay at $1 because of money demand, confidence in the protocol, and the stability mechanisms the protocol uses to retain its price stability.
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When the price goes above 1$, new uAD is printed and given out as rewards, driving the price gently back to 1$.
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When the price goes below 1$, users are incentivized to take out coupons for future rewards in exchange for uAD, driving the price back up.
By staking assets into our bonding contract, you will also be rewarded for providing additional collateral and liquidity to the protocol. Arbitrage traders that keep the price at $1 (on Curve) are also provided with rewards.
If you're interested in learning more, we suggest that you take a look at some of the more in-depth documentation, like the Tokenomics overview and uAD token documentation pages.
Please be patient with us, and we'll be patient with you 😉. If you have any questions, please drop by our Discord server
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Sell when above $1.00
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Buy when below $1.00
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LP at $1.00