Introduction of Claim: A New Generation of Credit Stablecoin
Tags: Stable Coin, Dai, Yield Farming

Looking back at the rapid development of the field of DeFi in the past year, the stablecoin is definitely the “pearl on crown” in the world of DeFi. In 2020, Dai, the first generation of the original stablecoin of the DeFi ecosystem, has seen about 20 times increase in TVL. Since Ampl launched a new model of elastic algorithm to stablecoin, the innovation and change of stablecoin entered a fast iteration period. At some point, several new projects, which focus on the improvement and optimization based on one of the properties of the existing stablecoin, will be created in the market. Fei, Rai and Float, which have been launched recently, are outstanding representatives among these stablecoin projects.

Throughout the development process of the DeFi ecosystem stablecoin, some stablecoins, created by staking assets, are still highly accepted in the market. After all, people believe that the pledged value of stablecoin needs to be supported by cashing ability. In order to ensure the rigid cashing ability of stablecoin, the over-stake model represented by MakerDao (Dai’s issuance protocol) has largely sacrificed the efficiency of capital utilization. If there is a kind of stable currency, it cannot completely rely on the current value of the assets of the caster, but also take the expected future income of the assets as the reliable collateral, which will greatly improve the capital utilization efficiency of this kind of stablecoin. This idea is exactly the origin of Claim, a new generation of credit stablecoin.

The Claim Protocol supports users to pledge their assets and generates the stablecoin $cUSD. The protocol allows users to deposit assets through the aggregation yield platform for fund allocation to form investment income. The income of these asset investments will serve as the value to support the Claim ecosystem credit system. In this mode, the funds deposited by users can not only be used as collateral to obtain stablecoin cUSD for financing, but also enjoy the credit leverage formed by the expected return of assets, which greatly improves the efficiency of asset utilization.

In order to ensure the value anchoring and cashing ability of cUSD, only $Dai will be supported as the yield farming assets at the initial stage. After users deposit $Dai, they will cast $cUSD according to the ratio of 1:1. After that, the user can exchange the cUSD in the ratio of 1:1 for $Dai at any time.

The economic model of Claim Protocol is a dual-token system. The $cUSD is a utility stablecoin minted by the Claim Protocol, which serves as a circulating token asset for users who participate in the protocol staking.The governance token of the protocol is $Claim, which used for the community governance of protocol function iteration, parameter adjustment and DAO Treasure asset management. The total supply of $Claim tokens is 100 million. The distribution mechanism is as follows:

-DAO Treasure (community governance vault): 80 million (80% of total supply)

-Eco Funds (ecosystem development funds): 10 million (10% of the total supply)

-Team Funds: 10 million (10% of the total supply)

The founding team has always pursued the concept of DAO decentralized governance regarding project development. At the beginning of the launch, approximately 12 million $Claim tokens were allocated to the community within a 6-week yield farming program. The program will be divided into two stages: the first three weeks will be lossless mining of stablecoins. Users only need to deposit $Dai to participate in fair start-up mining with zero pre-mining. In the next stage(also will last for three weeks), $cUSD external liquidity market-making incentives, $Claim token liquidity market-making incentives, and $Claim token stake rewards will be launched. For detailed mechanisms and rules of mining activities, please refer to the follow-up article issued on Medium.

Our vision is to use the Claim Protocol to create a new generation of credit stablecoin ecosystem based on the value of assets across time periods and characterized by sufficient external coupling and deep liquidity. We believe that in the not-too-distant future, users can easily and conveniently access the diversified DeFi world through the ecosystem built by the Claim Protocol. And Claim will not only be a stablecoin minting & redemption agreement, but also a one-stop DeFi service network that can carry users’ long-term chain credit value evaluation, credit financing and asset custody. For users, they only need to tap the “claim” button on the screen to easily have all of this.

At this moment, we are at the starting point to this vision. Achieving this vision depends on continuous and close communication and interaction between the team and community participants. Therefore, community users are always welcome to communicate and feedback with the team through the following platforms.

【Official Links】

Website: https://claim.xyz/

Twitter：https://twitter.com/claimdotxyz

Medium：https://medium.com/@claimfinance

Telegram：https://t.me/claimofficialcommunity