Gene Finance Announces Launch of Stablecoin — Official Announcement
Gene Finance continues with the evolution of its cross-chain decentralized finance ecosystem with the launch of its algorithmic stablecoin, Regene, on the Huobi Heco public chain.
February 17, 2021: The Gene Finance Team is pleased to announce the launch of the Regene Stablecoin, which will take place on February 19, 2021, at 8:00 PM GMT+8. REGENE is an innovative algorithmic stablecoin project that will become an integral part of Gene Finance. This cross-chain DeFi ecosystem provides advanced, innovative ways to deploy digital assets and optimize digital asset portfolios.
Although algorithmic stablecoins are still in their infancy and their sustainability remains unproven, they have gathered considerable traction on the Ethereum blockchain and exhibit interesting properties, which Gene Finance hopes to further emulate in future iterations. The simplicity of the mechanisms supporting stablecoin stability makes them attractive to retail and professional traders alike.
Token Design
Like other algorithmic stablecoin projects, Gene Finance has adopted a three-token system:
- RENEGE Cash (REC): A token designed to become a medium of exchange for the Gene Finance ecosystem.
- REGENE Shares (RES): A token that gives its holders the right to receive additional REC during expansionary phases.
- REGENE Bonds (REB): A token designed to incentivize the burning of REC during deflationary phases.
Regene Stablecoin Launching on Huobi Heco Chain
Huobi Heco Chain is a decentralized public blockchain developed by one of the top three Chinese digital currency exchanges. Heco provides a developer-friendly infrastructure to build scalable decentralized applications as well as low transaction fees. Over its two months in operations, the blockchain has achieved 125 TPS, 35 million transactions, and over USD 2 billion in total value locked.
About Gene Finance: Gene Finance is a decentralized finance (DeFi) ecosystem that improves upon the current automated market making (AMM) economic system and technical infrastructure. Gene Finance also incorporates the increasingly popular non-fungible tokens (NFTs) on the platform to provide its community base with a great decentralized finance product that has great yields and an intuitive simple-to-use interface.
Visit here for more information on the Regene Stablecoin: https://docs.gene.finance/products/regene
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