Stablecoin Information
Bytecash (BYC) is a USD-pegged stablecoin natively issued by Circuit, a CDP protocol on Chia. BYC is overcollateralized with XCH, the native coin of Chia.
Category:crypto-backed
Minting and Redemption
BYC gets minted when users borrow against collateral they have deposited. BYC gets melted when debt is being repaid.
Audits:
Stablecoins Usage by Chain
| Name | Bridge | |||||
|---|---|---|---|---|---|---|
| 0 | -0.23% | -4.90% | -12.63% | 45,293.85 |