Spice Trade’s stablecoin, Inflation Adjusted USDS (iUSDS), has broken into the biggest gainers’ list for the second week in a row. After taking a flight to rank third on the list for week 24 by climbing over 10,000 spots, iUSDS has climbed a further 7,821 spots to rank 613 this week. This means that the Inflation Adjusted token has skyrocketed slightly above 18,000 spots in the last two weeks and has broken into the top 1000 on the overall chart. These statistics demonstrate how seriously the 18Digits community has taken the token. So what exactly is the buzz about iUSDS? We’ll provide a brief analysis of the token and the last week’s events in this post to help you understand why so many people choose the Inflation Adjusted USDS (iUSDS) for the second week.
Note: The material provided in this article is strictly for information purposes. The content is not intended to be taken as financial advice.
What is Inflation Adjusted USDS (iUSDS)?
Inflation Adjusted USDS (iUSDS) is a stablecoin that automatically adjusts and guards against inflation. As data from the US Bureau of Labor Statistics’ Consumer Price Index (CPI) are released each month, the peg for iUSDS is updated to consider inflation or deflation. The iUSDS intends to create a stablecoin that maintains the US dollar’s relative purchasing power.
The following is the formula:
Peg (iUSDS) = $1 / Buying Power Coefficient (where Buying Power Coefficient (or BPC) = Consumer Price Index (CPI) as of January 2022)
Inflation Adjusted USDS (iUSDS) Tokenomics
iUSDS currently has a price of $0.944 per token, with its market capitalization worth $1,772,264.35. iUSDS price has had a seven-day high of $1.06 and a low of $0.9197, which is not too far from the $1 peg. There are 1,876,690 IUSDS in circulation out of a total supply of 2,210,259 IUSDS (Price index from the 26th of June,2022, according to CoinMarketCap)
What makes Spice Trade Unique?
· Protocol-Owned Liquidity based on Starfish Topology: The Spice Trade Protocol is based on the Starfish Topology concept and is intended to provide significant liquidity at a low cost.
· Open-Source: The primary advantage of Spice Trade is that it establishes an open-source environment in which anyone with a good idea can contribute and develop on top of the Spice Trade protocol.
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