Stable Cryptocurrencyfor the Modern World
Boreal is the stablecoin of the Aurora network. Inspired by free banking, each boreal is backed by a combination of dapp endorsement and debt from loans.
Dapp support begins with IDEX, as Boreals will always be accepted at their target value as payment for trade fees. Guaranteed redemption on IDEX will help maintain the price as traders are incentivized to purchase boreals and lower their trading costs whenever the currency falls below target. Boreal will also serve as a base asset, allowing traders on IDEX to minimize risk by trading against a stable base currency.
As boreal usage grows, Aurora will begin to issue loans in the currency through the first cryptobank, Decentralized Capital. These debts will act as another form of collateral for boreals and will generate additional boreal demand due to the required use of boreals in loan repayment, both principal and interest.
By backing the boreal with unique types of collateral, Aurora provides a new form of cryptocurrency with price stability that is on par with existing fiat options
Boreals match or exceed the stability of fiat currencies
Boreals can always be redeemed on IDEX for $1 of trade fees
No transfer fees on the Aurora sidechain