🍷Tinto Dollar ($TUSD)

What is Tinto Dollar?

A next generation stablecoin protocol running inside Tapas, operational on Telos blockchain, innovating on the conventional idea of stablecoins. Rather than being tied to a single currency, or relying on an unstable algorithm, we're looking to introduce a mechanism that maintains its stability by being backed by a diverse basket of stablecoins.

This method reduces the risks associated with regulatory issues, algorithm not responding, de-peg of an asset, by diversifying several stablecoins, we can mitigate risks.

Functionality

Tinto Dollar will be designed to integrate seamlessly with existing stablecoins, users will be able to deposit any stablecoin supported by Telos EVM, prominent stablecoins like USDT and USDC. This minting process of TUSD will be facilitated through smart-contracts, ensuring transparency and security for all transactions, and overseen by the Tapas DAO. The aim of this newly TUSD is to be utilised across major DeFi platforms around the Telos ecosystem, with it's first usage in trading on Tapas Exchange.

This new approach to cryptocurrency opens a new functionality to enhance the utility of stablecoins, whilst always staying backed by it's basket of goods, offering a more robust diversified stablecoin. In times where stablecoin trustworthiness and reliability has been put to the test, the Tinto Dollar present a new viable solution.

Benefits

Stability.

The stability of a stablecoin is something imperative in this volatile market, with Tinto Dollar and its multi stablecoin backing, we are not tied to one specific asset, instead it spreads among at least 2 or more assets, diversifying risks. If one stablecoin in the basket suffers from severe fluctuations, the price impact of TUSD will be minimal as it spreads its risk on the other assets, this dispersion allows TUSD to maintain its peg to the dollar.

Flexible.

There is no censorship. Users can mint TUSD by depositing supported stablecoins, at the same time users can also redeem their TUSD for the underlying stablecoins in the basket. This minting and redemption process allows users to adjust their holdings giving investors a flexibility like no other.

Governed.

Tinto Dollar features a governance mechanism greatly increasing its transparency and decentralisation. $TAPA will be used as the token to vote on which stablecoins get included in this basket, the community will have influence in the orientation of such.