Glossory

Vault: The Vault, also known as the Collateral Pool

This is where users deposit major cryptocurrencies. The funds in the Vault serve as the cornerstone for issuing stablecoins and should not be used arbitrarily at any time. Initially supporting ckBTC, we plan to gradually add ckETH and ICP as assets in the Vault as the volume of cryptocurrencies increases. By the way, when designing the product interface, contracts, and corresponding features, future scenarios with multiple base currencies should be considered, and provisions should be made in advance.

Underlying assets

Assets pledged in the Vault, such as ckBTC or ckETH.

CUSD: Stablecoin issued by CLP

It can be used as a stablecoin in various DApps within the ecosystem. CUSD maintains a 1:1 peg to the US dollar for a considerable period, similar to popular stablecoins like USDT, USDC, and DAI, making them interchangeable. Due to its stablecoin nature, CUSD is treated as currency or the dollar and does not have the functions of securities.

CLPT: Platform Token Issued by CLP

It has a fixed issuance limit. It is worth noting that to avoid potential regulatory risks in the future, it is sold only to institutional users at the time of issuance and not directly to retail users. If retail users want to obtain CLPT, they can either use the CLP platform and obtain it through mining or become institutional investors, entering into investment agreements with the CLP project as fully independent legal entities.

To ensure that loans in the risk alert can be liquidated at any time, users need to deposit the CUSD they borrowed into this pool. When the liquidation conditions are met, they can immediately repay the CUSD and redeem the collateralized major cryptocurrency tokens.

Staking Pool

Users can deposit the platform token CLPT they have obtained into the staking pool to receive decent interest returns. (Similar to the concept of earning interest on deposits)