With inflation in the US hitting a 40-year high of 8.6% in May, and the Federal Reserve increasing interest rates by 0.75 percentage points, the largest hike since 1994. It only makes sense that the 18Digits voting community has rallied behind a token created to adjust and protect against inflation automatically. Inflation Adjusted USDS (iUSDS) ascended 10,219 positions to rank 8,434 on the overall voting list. This article will give an overview of Spice Trade’s brainchild, the iUSDS token.
Before you continue reading the article, please note that the content in this material is provided for informational purposes only; no information should be construed as legal, investment, or final advice. Before investing, kindly conduct your research.
What is Inflation Adjusted USDS (iUSDS)?
Spice Trade Protocol came up with the idea for iUSDS as a breakthrough innovation. iUSDS is a stablecoin that adjusts and protects against inflation automatically. The peg for iUSDS updates monthly to account for inflation or deflation as the US Bureau of Labor Statistics provides Consumer Price Index (CPI) data. The iUSDS aims to establish a stablecoin that retains the relative purchasing power of the US dollar.
Inflation Adjusted USDS (iUSDS) token information
iUSDS was first tradable on 26th May 2022. The token has a total supply of 12,233,445 iUSDS, with a circulating supply of 1,988,947 iUSDS.As of right now, iUSDS has a market capitalization of $1,974,831. The current price of iUSDS is $0.985474. (Price index from 18th June 2022, according to Coingecko).
Suppose you’re looking to acquire Inflation Adjusted USDS (iUSDS), the best cryptocurrency exchange for dealing in Inflation Adjusted USDS (iUSDS) right now is RadioShack (Avalanche) with the RADIO/IUSDS trading pair. iUSDS can also be bought on RadioShack (BSC), RadioShack (Ethereum), and RadioShack (Polygon).
What makes Spice Trade Distinctive?
Spice Trade intends to create a system based on the concepts listed below;
- Open-Source: The fundamental benefit of Spice Trade is that it creates an open-source environment in which anyone with a good idea may contribute and develop on top of the Spice Trade protocol.
- On-chain and decentralized: The Spice Trade Protocol aims to limit the chance of custodial risk. In contrast, centralized, stable currencies may represent a significant custodial risk.
VOTE NOW: To vote for your favorite cryptocurrencies weekly, you can register for free or log on to the 18Digits platform. You can also learn about up-and-coming cryptocurrencies on the platform.