What is EAST?
EAST is an algorithmic stablecoin built on Ethereum and Waves Enterprise. EAST is ensured both by significant overcollateralization and well-defined liquidation mechanisms. EAST.Finance is secured by WEST, but if necessary, can also use USDap, a 100% RWA-collateralized BondAppetit stablecoin, as a collateral.
“RWA-collateralized” means “collateralized by real world assets”, bonds actually, so the price of USDap equals $1 any time. And in the future, we’re planning to introduce more collateral assets for better decentralization. If you want not only to keep, but also to earn on your WEST — this is your choice.
Collateralization with RWA (real-world assets) requires the use of intermediaries’ services. Intermediaries find new borrowers, who are willing to lock their debt securities in order to obtain liquidity from the protocol. The intermediaries are to fulfill a number of requirements from the protocol. Also, a number of requirements are to be fulfilled by custodians, who provide custody accounts in traditional security accounting systems that are used to safely keep debt securities.
Both intermediaries and custodians are involved in borrowing funds for the protocol within two scenarios. A borrower can enter either into a loan or a sale and purchase agreement with an intermediary. Though the second option leaves the protocol more vulnerable to the actions of the intermediary, this risk is mitigated by some extra requirements from the protocol.
Today, real-world assets (RWA) are the key to expand a large-scale enterprise adoption of DeFi. RWA can break the wall between decentralized finance and people who are not interested in borrowing extra, on-chain assets to access liquidity. After the members of a top-3 DAO organization voted to accept real-world assets as collateral for their token loans, their token price surpassed $4,000. Another company has developed an application to borrow these tokens using real-world assets, and its total sum of the loans has already surpassed $26 mln. Such cases prove RWA to be the most important part of the crypto future in the business enterprise sector.
Working with EAST stablecoin is easy
You put your WEST into a special vault of your wallet and get EAST in exchange.
You trade EAST at an exchange of your choice, while your WEST is safe in your vault.
If necessary, you can unlock your WEST and return EAST at any moment.
If WEST price grows, you can issue additional EAST without any extra contribution.
Features of EAST stablecoin
Best way to keep WEST and earn
EAST protects you from WEST volatility. If the WEST price goes up, you can get additional EAST. If it goes down, you can take your WEST back.
All EAST operations are available in a single-window web client
Your tokens are really yours
Your coins are safe and sound within your vault, because it belongs to your wallet. No one else has access to it.
EAST.Finance is based on Waves Enterprise mainnet — an enterprise-grade blockchain platform for governmental and business use cases.