💲USH stablecoin

The ceiling price of USH is $1.10, as users can always deposit the equivalent of $110 of collateral to mint $100 worth of USH. If USH is trading above $1.10, a profit could be made by selling USH on the market.

To establish a floor price for USH, there are two different mechanisms. If a user has a loan and finds USH to be below $1, they can repay their loan at a lower price by buying more USH, in turn stabilizing the price of USH. Alternatively, they can redeem their USH.

The USH token mint is 9iLH8T7zoWhY7sBmj1WK9ENbWdS1nL8n9wAxaeRitTa6.

Price ceiling

There is a hard price ceiling for USH at $1.1 which can be explained as follows:

• Let's assume USH trades at 1.12 USDC and that you have 1000 USDC. We'll assume SOL price is at 50/USDC

• With 1000 USDC you buy 20 SOL

• With that you deposit into a Hedge vault and mint 909.09 USH (the max possible at 100% collateral ratio).

• You sell the 909.09 USH on the market for 1018.18 USDC. (909.09 * 1.12)

• You started with 1000 USDC and now have 1018.18 without ever needing to repay your vault. In the process you made 18.18 USDC profit