Description
EVOLVING, RESPONSIVE, DECENTRALIZED RLX is a fully-collateralized, risk-managed stable token for Cosmos. Start your journey today!
Ride Dynamics RLX is a fully-collateralized, cryptocurrency-backed stable token for use across Cosmos DeFi. It's designed to maintain parity with the US dollar (USD) for broad accessibility. Initially, you can mint RLX with bridged USDT or USDC using the Parity Stability Module (PSM). However, new and exciting minting mechanisms like Vaults and BLD Boost are coming soon! RLX is deployed on Agoric and will act as the native fee token once enabled. Additionally, holders of the Agoric BLD token (?the BLDer DAO?) have sovereign governance over the protocol. A recently elected Economic Committee will manage risk parameters, evaluate new collateral types, monitor protocol operations, and respond to process improvement proposals.Over-Collateralization
Vaults will enable RLX to be over-collateralized, meaning that for each newly minted RLX token, there is a higher amount of collateral backing it. This enables the protocol to factor in the volatility of crypto assets and provides backing?for?each?RLX.
