What is Regene Cash (REC)? The New Stablecoin on Gene Finance
Regene Cash (REC) is a stable coin that seeks to be valued at $1. The farmable token is Regene Share (RES), an ownership token that receives inflationary rewards from Regene Cash and also derives value from the increased adoption of Regene Cash.
A major advantage to Regene Cash:
Liquidity providers to the GENE-REC pair have the opportunity to be
airdropped 20% of all supply expansion before REB and RES holders by
providing liquidity to the GENE-REC pair on Lava Swap
How the Regene Cash Mechanism Works
The protocol consists of three tokens (Regene Cash, Regene Share, Regene Bond), with Regene Share and Regene Bond (REB) designed to move Regene Cash towards the price of $1. The following scenarios describe how Regene Share and Regene Bond work, with the first scenario assuming that the price of Regene Cash is above $1 and below $1 in the second.
When Regene Cash is Below $1
When Regene Cash is traded below $1, users will be able to purchase Regene Bonds at a certain discount to establish the price stability of Regene Cash, with the expectation of future profits upon redemption.
Whenever a user purchases Regene Cash, it is burned, causing a decrease in the circulating Regene Cash supply. Bonds do not have interest payouts, nor do they have maturity or expiration dates. Rather, they can be redeemed on a 1:1 ratio with Regene Cash when the price rises above $1.
Purchased bonds can be redeemed on a 1:1 ratio with Regene Cash only when the oracle price of cash is above $1.This prevents bondholders from cutting their losses on redemptions and creating unnecessary increases in supply.
When Regene Cash exceeds $1
When the price of Regene Cash exceeds $1, the contract primarily allows bond redemptions to bond redeemers. If the total number of Regene Cash created during a supply expansion event exceeds the number of Regene Bond in circulation, excess rewards will be minted and distributed to Regene Share (RES) holders.
For instance, let’s assume that the price of Regene Cash exceeds $1 and the number of newly issued Regene Cash exceeds the circulating supply of Regene Bond. In this case, the Treasury contract mints new Basis Cash seigniorage into existence. This seigniorage is given to the Alien Council, where users can stake Regene Shares and earn daily seigniorage based on the price of Regene Cash.
Experience Regene: https://regene.gene.finance/