Shrimpcoin - The first shrimp-pinned stablecoin on Ergo

Coming soon is Shrimpcoin - a stablecoin based on the ageUSD protocol, the target value of which is that of a single shrimp.

FAQ:

1. Is this a joke?
Nope! We have every intention to launch and maintain Shrimpcoin.

2. How will I be able to acquire Shrimpcoin?
You will be able to purchase (and redeem) Shrimpcoin and Shrimpcoin Reserve through the smart contract interface on our website (shrimpco.in, not up yet), or by manually creating and broadcasting the transactions.

3. How does it work?
Shrimpcoin maintains it’s value through market turbulence via a surplus reserve of ERG, which is provided by Shrimpcoin Reserve holders in return for claim to a portion of fees accrued by the protocol. If you understand the ageUSD protocol (sigUSD is an instance of ageUSD) then you understand Shrimpcoin.

4. Are you doing anything unique?
Well, yes! We plan on launching Shrimpcoin on multiple blockchains, namely Ergo and Cardano, and allowing transfer of Shrimpcoin between them. This will be achieved very simply as a combination of a redeem action on one chain and a mint action on another. In addition to this, we plan on having some neat things on our website you will be able to do with your shrimp, so stay tuned!

Like the idea? Follow us on twitter, or join our discord to chat with us, make suggestions, or just hang out with like-minded shrimp enthusiasts.

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