Our mission is to promote the widespread adoption of cryptocurrency by overcoming the volatility that is often associated with it. Erinzi stablecoin is the first of its kind to use formal verification to ensure price stability. Unlike traditional stablecoins that are pegged to fiat currencies or commodities, the Erinzi protocol is mathematically verifiable and does not rely on a traditional bank.
Our algorithmic stablecoin contract is a smart contract that is responsible for buying and selling Erinzi in the market in order to maintain its stable value. This ensures price stability and makes the coin useful for decentralized finance (DeFi) applications. In addition to ENZ, we also have the Lirum Reserve Ratio (LIR), which has a minimum and maximum reserve ratio to help prevent peg manipulation and maintain incentives for LIR holders. To use the Erinzi stablecoin, there are a few fees that you should be aware of. These include minting fees, burning fees, and operational fees, which are all charged in ETH. The current fees are as follows: ENZ mint & burn fee: 2.0%, ENZ operational fee: 1%, LIR mint fee: 0.2%, and LIR burn fee: 0.5%. All fees collected will be sent to the reserve pool and will be used for further development. LIR holders can also redeem their rewards by burning their tokens. We are excited to continue the development and growth of Erinzi stablecoin and to bring more stability to the cryptocurrency market. Follow our page for updates and to learn more about how you can use Erinzi stablecoin in your everyday transactions.
