What is STP DAO?
STP DAO is the mechanism for decentralized governance in which STPT holders will help dictate the direction of important protocol decisions including USTP and the respective DeFi platforms that utilize USTP. Users stake STPT in the STP DAO in order to create and vote on proposals.
What is USTP?
USTP is a stablecoin designed for usage in the STP Ecosystem. It will allow users to earn yield, leverage lucrative DeFi strategies and transact across multiple platforms both within and outside our ecosystem. USTP is over 100% backed by STPT. A greater collateral amount is required in order to reduce the risk of liquidation in case of price volatility.
STPT will be the governance token for the USTP protocol, giving holders the ability to vote for proposals that will shape the future of USTP.
Value created from future fees that may be generated through USTP growth and usage will also accrue to STPT holders.
Users must stake STPT to mint the stablecoin USTP which will be necessary to transact across multiple platforms both within (i.e. Blockzone) and outside our ecosystem (i.e. ChickenSwap).