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The rhoToken
Stable, tradable, redeemable, pegged 1:1 to stablecoin
The Flurry protocol issues rhoTokens, which are backed 1:1 by its underlying stablecoins:

1 rhoUSDT = 1 USDT

1 rhoUSDC = 1 USDC

1 rhoBUSD = 1 BUSD

Minting rhoTokens

Users convert their USDT / USDC / BUSD into rhoUSDT / rhoUSDC / rhoBUSD using the Flurry Protocol. Depositing a stablecoin will result in the issuing of the corresponding rhoToken. Once the rhoTokens are in your wallet, you can hodl, trade, or redeem them as you wish!

Redeeming rhoTokens

Users can convert their rhoTokens back into their corresponding stablecoins using the Flurry Protocol.
There is no exit fee currently, though Flurry reserves the right to charge an exit fee in the future, (in the range of 0.5%).
Last modified 27d ago