A lightning fast stablecoin converter.
StableWire leverages the power of Ethereum and the growing decentralized stablecoin ecosystem to bring a powerful solution to stablecoin illiquidity.
StableWire allows the community to supply supported stablecoins into a pool which is made available to users that wish to convert their stablecoins from one form to another. When not in use, these stablecoins may sit in Compound Finance to earn further interest. Suppliers are compensated for their contributions through interest from Compound Finance as well as a portion of StableWire conversion fees.
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Stablecoins that are not in use are supplied to protocols (such as Compound Finance) where they earn interest. The instant these coins are needed for either a withdrawal by a supplier or a conversion by a user, they are removed from these protocols and routed to their destination. This process ensures that suppliers earn as much interest as possible on their contributions even when there is little conversion volume.
Currently, StableWire Supports USDC, DAI, PAX, USDT, TUSD, and GUSD.
Interest is paid out directly into supplier's StableWire balance every block.
Suppliers can redeem their StableWire balance for a stablecoin of their choice from the StableWire pool at any time. Suppliers must understand that they may not be able to get the same coin that they initially supplied if that coin is no longer available in the StableWire system either due to conversion or withdrawal depletion.